I have one, the new M07 in 80CrV2, and I like the knife. It can take a beating and is also good for fine detailed work. Superb thin feathersticks, and great for cutting bread and cheese, too. But I think that the sheath is overhyped. I had to whittle down the front finger guard of the knife a bit to be able to sheath and unsheath it without needing a sledgehammer to ram it in. The idea is that you can stealthily draw this knife from an upside-down or crossdraw mounted sheath, without the need to undo a snap first. I guess it must be difficult to get the fit and thus the resistance just right, so the knife is well retained and can still be drawn fairly easily. In practice, it still takes too much force both ways (mine, that is; these sheaths are hand made so there may be inconsistencies). Also, the internal blade protector does not run all the way to the very end of the sheath and neither does it go around the spine. Meaning that the very sharp tip hits the leather near the end of the sheath. I actually cut myself when I sheathed the knife while holding the end of the sheath a bit forcefully with my left hand while pushing the knife in - the tip went through the leather and bit me in my left palm. In the long run it will likely enlarge that pinprick to a real cut and the tip will protrude if I'm not very careful (I have an old fileting puukko that has the same problem, the tip has cut through the leather and protrudes about half a centimeter). It means you cannot hold the sheath with your off hand and squeeze it a bit while pushing the knife past the retention wheel. I also noted that the rubber of that wheel is getting cut by the knife edge (it's actually a twin wheel, the edge has to pass exactly between them and if you do not take great care (again, two-handed and looking very well at what you are doing), one of these rubber rims will frequently get a nick from that super sharp edge. Wait until that starts falling apart, too.
The 'homage' to this knife, the Jääkkäripuukko from Varusteleka, made by the same manufacturer (Laurin Metalli) has a better sheath that uses a large snap button where the Peltonen has that retention wheel. The Jääkkäri is also held in place behind that button, without the need to snap it shut (if you see the two sheaths next to each other, it is clear that both use a similar principle). The knife does not come out even with the snap button open and held/shaken upside down, so anyone wanting to draw silently can just undo the snap well in advance; you only need to close the snap when you are storing the knife at the end of the day. And the Jääkkäri draws and sheaths a lot easier, without the need to be overly careful - I carry mine crossdraw high on my left hip and can easily draw it with my left hand in a reversed grip if needed. That is impossible with the Peltonen sheath, unless you really yank it very hard. The Jääkkäri sheath also has a good, sturdy blade protector insert that envelopes the entire blade.
So: The Peltonen is an excellent knife, a pleasure to hold, scary sharp, nice high flat profile, nimble but sturdy; I'd give it 9 out of 10 at least, but the leather sheath is below par. Unfortunately, the M07 does not come with the sturdier and ambidextrous plastic sheath that you can get for the M95, it only comes with the leather one, or an ugly Kydex contraption (depending on the store).
The joke is that the Peltonen M07 will fit reasonably well in the sheath for the Jääkkäri 140... ;-)
