There are a lot of nice knives pictured in this thread. (can you hear the "however" coming?...)
One of the things you get when you spend a pile of $$ on a (now overpriced as of year 2000) Brend Model 2 is the fantastically fitted, finished, radiused guard... in steel also, not just G10 or micarta. Is this necessary for proper function of a combat knife? Ah, no, not really. Is it a great piece of craftsmanship that the educated eye will appreciate? Absolutely.
And the super nicely ground blade of course.
Here's a pic of a Model 2 in 6.5" blade that allows you to see the radiused guard to some degree. Realize it isn't just radiused in the same plane with the blade, but flares out to the sides a bit also. Super. Have to handle to appreciate.