Sal, good points, but I have some comments.
Starting with your point #3, where you say liner lock stability is a matter of tight tolerances, and you end up getting what you pay for. This is maybe my biggest disagreement. In my experience, the good factory manufacturers -- e.g., Spyderco, Benchmade -- are putting out better liner locks than even the best "tactical" folder makers. After being to many shows and handling a lot of liner locks, I really believe this to be true, and I'm not the only one who has noticed it. It's also why several of us -- a group that includes some people very experienced with testing knives -- rarely or never buy liner locks anymore.
Maybe that's why I also disagree with your point #1, about debris in the mechanism being the most common cause of liner lock failure. Maybe it's the most common cause of failure in Spyderco's liner locks, but it's definitely not the most common cause overall. The most common causes are mistakes by the maker. Often, the liner sticks up too high (or is too accessible through the cutout), so when you hold the knife firmly, the flesh of your hand sinks in around the lock and unlocks it slightly. The lock will simply disengage as soon as you put some pressure on the spine.
Also, problems in the liner/tang junction are still *way* too common -- when spine pressure is applied, the lock simply slips off. This problem can often be seen in the absence of any dirt. Sometimes, a tiny bit of dirt can cause this failure. But a knife with a clip on it is meant to be carried in a pocket. If it gets filthy, I agree that all bets are off. But if the knifemaker knows the knife is going to be carried in a pocket, he should make sure his lock can handle being put in a pocket for a couple hours. This isn't spun glass, this is a hard-use folder, and it is not unreasonable for me to expect a little robustness in the lock.
The real biggest problem in liner locks is that too many makers don't seem to bother testing their locks. If I'm going to buy a $400 "tactical" or "hard use" folder, I expect that the lock will hold up even if I hold the knife firmly (should be expected!), or if there's some pressure on the blade spine, or if I carry the knife for a few hours in a reasonably-clean pocket.
Joe
jat@cup.hp.com