I have probably bought about a dozen of these things over the past few years. I give them as gifts, and if I lose one, they are inexpensive enough that I keep a few extra around so I'm never without one. They take an edge quite well, although I can't duplicate the factory edge for sharpness. I just use a steel. The carbon version (vs. the stainless steel) will acquire surface rust, but it's cosmetic. I even found a knife outside that I had lost over a year prior, and cleaned it up with steel wool. It was ugly, but not noticeably pitted, and still totally usable after I re-honed the edge. Because the sheath is plastic, it was fine too. These knives snap into the sheaths with a positive click, so they don't fall out when you don't want them to, but they are very easy to remove with one hand. And they've all been very consistent in how easily they snap in/out. The plastic handles are pretty indestructible too. And the high cost of most other "serious" knives, makes these things seem like the best value possible. There is no reason to get upset if something happens to it ... just get a new one.