Just skimmed this thread, so I'm not sure whether anyone pointed this out. Perhaps one of the reasons for the change in the design is to secure the security ring from flying off should someone open the knife when in the closed and locked position. This led many owners to have to ask for replacement rings. For some of us, this was not a problem as we were carrying versions which only lock open, not closed. But as the locked closed rings took over the old stock, they began to fly off the knives, some getting lost under furniture or in the grass or down drains.
Since I haven't handled the new version, though, maybe I'm overestimating it. Does the new lock hold on this way? Oh, and isn't this new design reminiscent of the Cold Steel Twistmaster?
Zieg