I have the small (I think 1999) with the Damascus blade and I really like it. It being the small (3 closed) it really isn't suited to any kind of heavy-duty cutting so it generally goes in the pocket when I am going out with friends, the office or anywhere that a knife would be questioned, at one time it was my Airplane knife.
The Damascus that Case uses is high carbon and will rust (tuff cloth, renaissance wax, etc is needed), but it will take a wicked edge and cuts paper, plastic and (small) rope and threads with out a problem. The one thing that I will note is that it basically had no factory edge. It was without a doubt the dullest knife out of the box that I have ever seen, but I used the Razor Edge sharpening system and just do a little upkeep with the Spyderco Sharpmaker and no problems.
Also being a classic styled knife, even non-knife-people will smile at it, especially if they notice or you point out the fact that it has a Damascus blade. I even gave it to a guy to cut an aspirin packet open that he had just bought at a convince store and nobody blinked an eye, something that I would be very hesitant to do (usually I would make him suffer because he doesnt have a knife of his own) with just about any other knife that I own. Could you imagine pulling out a Cuda Maxx and handing it to a stranger in a convince store?