Both suffer from the steel choices.
The Ultima... I have a kitchen knife in 1.4116, a good variation of it (the carbon content for one can vary, and of course heat treat is a big factor). It's fine in that use, but still needs to be touched up pretty often. I would like something better/much better for a field knife, and for the price I think you really should get better too. But the design is interesting. The handle is a question mark though - would it be too abrasive? All in all, if you're not going to use it too extremely and find the design to your liking, I say get it. I probably wont be too bad.
The Side Hawg looks like a total novelty item to me. It's kind of a fun idea, but...
The steel is the appaling 420J2, not really even a cutlery steel. Chisel grinds can be a drag. Some people like them, but personally I don't want them on anything but chisels. I wouldn't trust the sheath too much either. It might be very secure, but I'd wouldn't want it hanging on my person.
I must say I have not handled either of these knives, so this is pretty much guesstimating.