I too had this debate. Bought the 0350 first and picked up a PM2 in a trade several months later. I got rid of the 0350 soon after.
Handle/grip: Keep in mind that I have normal-size hands but long fingers, so YMMV. The extra beefiness/width of the 0350 was rendered entirely irrelevant by the far superior handle design (and choil) of the Paramilitary 2. With multiple comfortable and safe grip positions, I felt comparatively ambivalent about the 0350. It's actually one of my favorite ZT designs in terms of grip, but the PM2 is just plain better.
Size and weight: The 0350 is a big, wide, heavy knife. The PM2 is an overall slimmer design as a result of its inset liners and thinner (but just as comfortable) handle. It's also lighter, although I'm not sure by how much. The ZT felt like a wide brick in my pocket, the PM2 was definitely noticeable but it sat better against pocket seams and felt more balanced as a result.
Blade: The 0350 has quite a bit of belly thanks to the recurve. Thing is, the PM2 has enough curve that it's almost all belly. More importantly, the PM2's full flat ground blade is far superior in terms of actual cutting ability. If I had to use one knife for food prep, cutting up small sticks, whittling, or really anything but prying, I'd go for the PM2. I personally have no issue sharpening recurves, but depending on the sharpening system, you might have issues. The PM2's only real downside is the relatively thin and sharp tip. If you want a knife tip to pry with, the 0350 is a superior choice, but a knife is a poor substitute for a proper prying tool and any blade that can be used as a pry tool will inevitably sacrifice cutting ability to do so.
Deployment: The 0350 is a pretty good assisted flipper. Problem is, that flipper sticks out. A lot. It tends to catch on things and while I've never had the knife deploy, it's a risk I'd rather not take given that the PM2's spyderhole is just as good and doesn't catch on much of anything. I also find the Spyderhole easier to use in gloves, although that's subjective as different gloves will yield different results. Also, the 0350 isn't nearly as smooth when de-assisted, although you can use the blade stops as thumbstuds.
Lock: 0350 uses a nice thick, beefy liner lock. It works, despite what *certain* videos may have you believe. However, the PM2's compression lock (which is really just a different style of liner lock) is SIGNIFICANTLY easier to manipulate (although it's a little less lefty friendly), and despite using a much thinner liner, is just as strong thanks to a more refined design.
That all being said, buy what makes you happy. If you really like the look of the 0350, buy one. It's a solid knife. It'll cut things. You can always try a PM2 later.....
.....that being said I started out thinking ZT's were the apex of cool knives and Spydercos were fugly as hell. It wasn't until I picked up a Spyderco and started to use it that I realized that the beauty of Spyderco's design ethos stems not from their outward appearance, but from their focus on functional and practical designs.
:thumbup:
