I thought I'd post an update now that the knife is here.
Over all I am MUCH happier with this knife than I expected to be. The reason is mainly the sheath and retention devices. The sheath is quite ingenious in it's design and it has MANY attachment options that are TOTALLY secure.
Out of the box it has a slot for 2" webbing that can use a stanless screw to hold it in place. That means it can be fit securely to a sailing harness with 2 inch webbing.
Another great feature is that the loop on the sheath for the 2" webbing is located low near the handle. See in the picture how part of the sheath sticks below the handle? This is part of the 2" webbing loop. This means that the knife, when installed, doesn't stick down the full length of the handle like most knives do. In fact it only sticks about 2" below the webbing. This is really nice for installing on a sailing harness so the handle doesn't jab your leg (or worse!) when you sit down.
Finally I really like the retention system. It is very easy to use even with neoprene gloves, is very intuitive and super secure. It doesn't even rattle. It's hard to describe just how easy, intuitive and fast it is to get out and yet how secure it is. It's really good.
Why all this talk about the sheath and retention system? Well this is an emergency knife and I plan to carry it all the time and use it almost never. I did cut a couple lines with it and it seems to cut just fine. I don't worry about the knife not keeping it's edge because I don't plan to be using it much and thus not dulling it.
I like it so much, I'm getting one for the wife's harness too!