I've had more than my fair share of cheap knives. I've loved knives since I was a little kid, but didn't get into quality (cheap vs inexpensive) knives until a few years ago. My favorite though was a nice piece a friend of mine picked up from Chinatown.
Sight unseen, he said he was going to C-town and if I wanted anything. I asked for a long-ish folder, tanto point with a black handle. The knife he came back with was perfect. Great lock up, solid construction. Best cheap knife I'd ever seen, on par with inexpensive quality knives in every way except for the steel choice (china 440). Never rusted or failed. Sad sad day when I lost it. I miss that thing. I've been trolling C-town every now and again looking for another, just for old time's sake.