I have the plain blade version with a nylon sheath instead of the kydex. My preferences for the plain blade and nylon sheath are based on the ease of resharpening the simpler profile and the extra pocket for a small sharpening stone and cigarette lighter found on the nylon sheath. Some people prefer the partially serreated for cutting cord and thick fabric. There is rasping on the back of the blade that could be used to notch small limbs for building a improvised shelter or something. I haven't found use for them yet, but I have had fun rasping notches into small branches. Maybe that would help when making a splint after you twist your ankle or whatever you might do.
The knife is light, but not flimsy. I have found that this is a great size. A very small knife might be more packable and a big knife should handle bigger jobs. But with that being said, I have found this knife straps easily to my backpack shoulder strap's molle type webbing (another plus with the nylon sheath), out of the way but accessible, and I have never had a job this knife wouldn't do. I suppose that means SOG has found the perfect size to balance convenience and utility.
The checkering on the grip gives excellent retention in hand and the handle profile has perfect ergonomics for my medium sized hands. Seriously, the finger grooves feel like the were designed for my hand. There is also a larnyard hole on the handle which is a feature I like. I'm not normally in a situation where dropping my knife would be a big problem, but it can happen and an extra foot or so of 550 para cord could always end up being usefull.
I haven't abused this knife, so I can't talk about what it can survive. I really like it and intend to keep it as long as possible, so I handle it with the respect appropriate for something you value. It is very possible that it could handle abuse, I'm just saying I can't comment on that point.
A testament to my level of satisfaction is the fact that I bought another one after I thought I lost the first. I later found the first and still don't regret buying a second one. Now I can keep one with my backpack, and one in my truck.