I have the Calypso Jr. in both Micarta and FRN, and a Pen Knife. To my mind, saying a Calypso Jr. is the locking equivelant of the Pen Knife is like saying a turbo VW Bug is the equivelant of a Porsche. They are similar sorts of things, but there's considerable difference in the details.
The issue of the lock concerns more than just the lock, it also concerns the pivot and the smoothness (or lack of smoothness) of opening/closing. In giving up the lock you also give up the smooth opening typical of Spyderco knives. So while I don't care for a lock on this knife, per se, I would like to have this knife with a smooth action, and that would require a lock. So ultimately I'd like a lock on this knife. Unless you live in a place where locking knives are illegal, there's no up-side to not having a lock.