I have the Dozier folding spear. It's a tremendous bargain for $20 and you'll sometimes hear people say it's one of the best buys in the knife world today. The steel is AUS8, which is perfectly adequate for most purposes, although people will be debating its merits until the cows come home. <img src="/images/graemlins/smirk.gif" alt="" /> (Search the threads on knifeforums.com or bladeforums.com for much discussion about this knife.)

I think the bottom line is that if you learn how to resharpen it, you should be happy with your knife for a long time.