Thanks Mark.
I visited various knife forums and some knife reviews on youtube. From what I gathered stainless steel gives a more worry free blade but doesn't hold a good edge. I would imagine I want a knife that holds an edge so I added carbon steel to my criteria. With that choice made having a sheath that does not retain water is a must. One knife which I come across one just about every site I visted was the Recon Scout.
So I decided on the Cold Steel Recon Scout SK-5 Carbon Steel (39LRST). I found a source that has a few of these NIB and placed my order yesterday. As for where to stow it - I don't think I am comfortable carrying an instrument like that on my person and certainly not in my waist pack (at least while sledding). Falling off the machine or being moderately ejected to me screams safety issue. So for that reason I would plan to stow it in safe fashion away from my body most likely on the machine.