Madcat you're asking good questions. I'm pretty new to this as well. I carried a pocket knife when I was a kid (back when you didn't have to be worried about school expulsions) but only recently started 30 years later. I had completely forgotten how useful a good pocket knife is for opening mail and food packages, removing (larger) splinters, stripping electrical wires, cutting rope, trimming errant threads from clothing, etc. It's also a little comforting to know they could be used defensively, especially in criminal protection zones (places with "no guns" signs). A couple years ago I found on the ground a really nice 4" Spyderco folder with a sweet Japanese VG-10 blade. It's too big for me to carry every day but it got me thinking about knives again, and I went through a couple cheep-and-cheerful ones before picking up a SOG Flash 1 with AUS-8 steel. I paid about $35 shipped and I couldn't be happier with its size, speed and half-serrated edge (mainly because those serrations are excellent for stripping wire, cutting cardboard and rope). Like CSC says, better blade steel, and things like G10 handles make the prices go up, but even if you're not a collector, the higher prices may be justified if the features, weight, quality and just "connection" in your hand say so, though I'd have a hard time spending over $100 for a knife, but that's just me. Maybe I'll change my mind if I find one that "just fits." Lord knows I've spent more on other hobbies for lesser reasons.