After spending a bit more time with this new set-up I'm having a hard time seeing how the knife could come out with the new rubber cap in place. It seems like a different motion is required to remove the cap than the type of motion that is needed to break the magnet's hold.

That said, like anything, I guess you have to use discretion when deciding if you are going to disregard the manufacturers instructions.

Also, during typical camp chores like hammering pegs and light chopping I didn't notice any discomfort from the cap.