All of the above reasons for preferring other brands are pretty much the same for me. I have several of their older knives (bought at superb prices at various PX stores on Army posts around the country) and like them, but they haven't kept up with the times in terms of materials, have a strong tendency not to offer non-serrated versions of many of the patterns I was once interested in, and generally have a tendency towards designs that look great first and cut second.
The one recent example I'll say is an exception is the Team Leader. I got the Duratech 20cv version and, while it's not the end-all-be-all steel that some thought it might be, it holds an edge very well, has excellent blade geometry, and--with a little bit of sanding to take the sharp edges off the scales--good ergonomics.
On the whole, though, they're chasing Buck and Kershaw now much more than Spyderco and Benchmade, and I do say "chasing" as they sure as hell haven't caught them. With Buck/Kershaw you'll get comparable materials (at least) at a lower price with MUCH more reliable fit and finish.
That said, I'm never giving up my old SOG Bowie in SK-5. Not very useful for a utility cutter, but one of the best looking (and feeling) fighters anybody ever put out in my opinion. Well made, too--although for the price they were at, it certainly should have been. :thumbup: