Well, I should have figured that Billy Mac would chime in here before I did.
Will, you and I now have two things in common and that's the Dalton Mini Hawk and the Toad and I own two of each. You know, it's funny because I am a complete contrast in that I LOVE "mega folders" and I also LOVE mini folders. The Toad is one of the best mini folders out there. People complain about the price and the steel, (AUS-8A IS a good steel by the way), but a lot of times they've never held one and felt the precision built quality. I like it better than the "Mouse" and the Mouse is another of my favorite small folders. By the way, the Military and the large Dyad are my favorite "big" Spyder folders.
It shouldn't surprise me that a lot of folks don't like the Toad. The "Native" is one of Spydercos most popular folders and for the life of me I can't understand why. I know it has "premium" S60V steel but IMHO, it has the ugliest, (yes, WAY uglier than the Toad), blade shapes I've ever seen since the infamous, (to me), SOG full size "JetEdge".
To each their own I always say and that's what makes the knife world so diverse. I'm sure it also makes Sal groan when he thinks Spyderco has a winner and it flops. The Toad is not a "flop" in my eyes but a true winner! You really have to experience it's build quality to appreciate it.