I agree, the ordinary person who doesn't use knives as much will not notice the difference. As for myself, I have owned and used Gerbers (including the Paraframe), and they just don't hold an edge long enough for me and are frustrating. Also on some cheap Walmart-bought Paraframe-style models the blades were way to thick. The supposedly-great LST II never held an edge worth a hoot. I gave them all away to friends who don't use knives as much and they work fine for them though.
I just look at edge holding as not only important for someone who uses knives alot but also especially important for someone in a survival situation that can't or doesn't have the means to sharpen a blade, due to unforeseen circumstances. I guess it can be done, but I would rather have an edge that held longer in a survival circumstance than try to sharpen my blade with my one unbroken arm, for example.
For lower cost knives, I have found that Buck knives hold the best edge for me. I do not however, have any experience with the newer "Made in China" Buck Knives. So I would recommend a lower cost robust Buck folding model made in the USA. I would stick to a drop point blade if possible though. The overall utility and strength of the blade is increased and the likelyhood of the blade tip breaking off is decreased greatly.
Oh, and stay away from the el cheapo Buck Diamondback fixed blades (Made in Taiwan, I think). I tested them out of curiosity a few years ago. The tip easily broke off of the larger model when roughing out cedar, and the rubber handle peeled right off of the smaller model with a little hard use shaving some basswood. Yeah, I know, I'm rough on knives.
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Me, a vegetarian? My set of teeth came with canines.