Ya ya, I know... I should really title the thread "Firestarting with only a knife and 3' feet of paracord" <img src="/images/graemlins/smile.gif" alt="" /> But the title I chose seems much cooler.  Maybe "Firestarting with only a knife and shoelace" would be pretty accurate and still sound cool? <img src="/images/graemlins/grin.gif" alt="" />
The hearth and spindle a are soft wood (Texas Cottonwood) from a very dead very dry piece of branch I stumbled across.  The bow is a Willow branch and the palm piece (can never remember what to call it when you're not using a rock) is a piece of very hard wood (type unknown).  I have only used it once so far.  Basically I just used it once tonight right after I made it in order to be sure I could produce a nice big coal with it before I showed it off, since it would be worthless otherwise regardless of its rugged beauty. <img src="/images/graemlins/wink.gif" alt="" />  You may notice there is no burn-in on the palm piece.  My secret is ear wax!  Seriously! 
 Okay okay I really just wanted to show off my new bow drill set since I actually spent a little time making it look half decent, by actually removing the bark other than only in the spots where it is necessary.    I created this with only the two tools shown below and as you can see I even spent time making my baton look pretty.  For you knife nuts that are curious, the knife is a modified Benchmade Nimravus Cub (3.65" blade of ATS-34).  Modified by removing the black BT2 coating and sanding the bevel edges a little to help it slice through stuff a little better. 
   I love making fire by friction.  There is a certain amount of satisfaction and confidence that comes with knowing you can make fire with only your knife (and maybe some cordage).  I have been practicing with hand drills for a long time as well but have yet to get a good coal with one.  I keep practicing though.  I think hand drills are the ultrimate!  Then you truely do only need a knife (or even a flint with a nice sharp edge on it) to create fire.  I know this isn't a primitive skills forum but this is certainly a valid subject for wilderness survival IMHO and I'm not active on any primitive skills forums so I have to share with someone... right?