If you look at the whole range of production folding knives available, I think Chris Reeve makes the best. Strength, cutting ability, materials and design.
I've owned an Emerson CGC-7, a matched pair of Loveless drop-point hunters (can't believe I sold those, numbers 123 and 124!), an Ed Fowler, several Chris Reeves, and a few other nice knives. I've handled Morans and most other top knifemakers products at shows too.
It's the simple Reeves that impressed me the most for their design and engineering. Back when Chris Reeve himself sharpened every blade, the "Moran edge" he put on those was the sharpest edge I've ever seen anywhere, by a margin. It's curved in a section view, right up to the very edge, not a straight bevel like virtually every other blade. That type of edge, even when done by a less-skilled grinder at Chris Reeve Knives (nobody does as well as Chris himself, from the newer ones I've seen anyway) cuts so well it's scary. You have to try it to understand.
My $0.02.
I like the inexpensive Spydercos (Endura, etc.) as light-duty utility knives, but that's all they're really made for. They might look like they'd be good in a defensive situation, but the soft plastic handles and held-by-a-rivet blade attachment aren't a good bet if you're stabbing and twisting through bone. A folder has enough disadvantages in it's design that only the very strongest ones can be trusted with your life.
