Yeah blems are always cosmetic issues. They are fully functional, but have a small blemish, and they have no warranty. I have a couple of ZTs, they are great knives. They do come with a slight obtuse edge, but they can be reprofiled if so desired. My 350 has a slimmer edge than my 303, so it slices much better, but I keep my 303 a bit more obtuse because it suits my needs. I would recommend both of these ZTs. I think you would love any of the ZTs, they are great knives. However, if you are worried about the weight, Emerson knives are built like tanks but are lighter than the ZTs. I had a ZT 200 for a short time, but I found it to be uncomfortable in the pocket because of its thickness, some people don't have this issue, but its just something I thought I should mention. If you like the looks of the ZT 200 then I would suggest you take a look at the Emerson Commander and CQC-15.
Good Luck!