In this case, I don't think just loosening the pivot screw will help much. The bearing surfaces between the lock and the blade are what is binding, and the spring that holds the lock mechanism against the blade is pretty strong. You'd have to back that pivot screw out so much to generate enough slack that it'd make the whole thing pretty wobbly. If I really wanted to cut the tension down, I'd think about maybe softening up the spring tension or honing down the bearing surfaces a little. A couple attentive minutes with a dremel tool would probably solve that problem. In fact, I've been opening and closing the blade a few hundred times this weekend and I've noticed it is getting easier, so maybe it's just a break-in thing. It is still stiff, but getting better.

As for the false edge, you'll be happy to note that it is quite similar to your USMC KA-BAR. It is not sharp, but it would be easy to sharpen the false edge just like a standard KA-BAR. I'd be careful about that, though. That edge is exposed when the blade is closed, and if you are gonna keep it in your pocket it might be a bit of a hazard. The point is well protected to about 1/3 of an inch up the blade, beyond that, the false edge is going to be exposed. You will have to do a fair amount of honing to get an edge, no different than with a regular KA-Bar I reckon.

This is a brute of a folder for $40. It isn't a slimline ultra concealable instant opening type. For that, I would probably go to a Spyderco or something similar, but this is definitely the stoutest folder I've come across. After spending almost $2,000 in the past few months on Busse knives (yeah, I got a problem, I am dealing with it), it is nice to find a unit I can actually EDC that cost me less than a tank of gas.