Is there any way to make the el-01 open more smoothly? It is difficult to open. Also, the place where you push with the thumb to allow the blade to fold in is very difficult to move and it hurts my thumb. Any suggestions on how to fix this?
By the way the 763 looks very nice, i think i may pick one up.
Just my opinion here so take it for what its worth. If the knife is actually going to be used and may even see some fairly heavy use, remember the lock is what stands between the blade and your fingers. Liner locks in particular are one of the more difficult locks to make securely, especially after a little wear and tear. Nothing personal but many of the inexpensive Chinese knives liner locks are not really meant to hold up to a lot of hard use.
If you want to stay in the 20 dollar range I would suggest looking at some of the Bob Dozier designed Ka-Bar folders like this one http://www.amazon.com/KA-BAR-Dozier-Folding-Hunter-Knife/dp/B0013AUDFS/ref=sr_1_1?s=sporting-goods&ie=UTF8&qid=1338086251&sr=1-1
Surprisingly good quality for very little money and a well done lockback (IMO) is safer than most liner locks. If you are willing to spend a little more you could also check out Cold Steels line of Tri-Ad lock folders...there is no stronger lock.
Really not trying to step on toes here but trust me, a failing lock is really bad for the fingers.
I have a lot of knives and this Smith and Wesson knockoff has been my EDC for well over a year. I love that it's so thin and the assisted opening works awesome. Plus it's cheap enough I don't mind using it. The coating has held up great and it has stayed very sharp. It is rather large, but fits fine clipped inside my front pocket because it's so thin and light weight.
You have to adjust the pivot screw ever so slightly, and spraying on a little WD-40 won't hurt. I don't know what type of pivot screw your knife uses but usually they'll take a hex or torx bit. And about the stiff liner lock, not much you can do about that (the WD-40 may help).
My enlan el01 has a smooth open now, you must adjust the pivot screw and lubricate with oil (i use sewing machine oil).
And with the use the smoothness improves too. My advice about EDC is for sanrenmu 733, 710, 763, 723 and 730. All good little light weight edc (and i like their designs).
How much smaller do you want them to be ? Do you already own a knife which has the right size? I found the SRM 700 series too small for my EDC needs and they are too similar to Swiss Army Knives for my taste (size-wise). My EDC recommendation for everyone who wants a EDC with a distinctive step up from the SAKs is the BEE/Enlan L02 (not to be confused with the EL02). Here my recommendations and here my collection for size comparisons. Furthermore here are some knife review videos that might help. Don't forget to use our BLF coupon/ giveaway raffle if you should order from Exduct.
Black G10 Collection (Enlan EL01, SRM 902, Bee L02, SRM 704)
i carry this one
very thin - dont even notice its in my pocket
easy to open/close, 440 stainless blade
If you like EL01 and want a smaller knife, you might want to take a look at the EL01's little brother EM01.
It's about 2/3 of the size of EL01 and very suitable for EDC.
the bob dozier recommendation from watchcollector1968 above is an excellent one. i have given away more of these in edc kits than i care to think about. the 3 1/2 inch blade is usable but will not get you arrested (nearly) anywhere in the u.s ( eurozone is another matter entirely!) they also come in blaze orange handles, which are ugly as sin, but easy to locate in messy (survival) situations
the flipper knives (El-01, smith and wesson (above) and my own EDC the imron MY-803) give you a measure of protection under failure as the flipper acts as a finger guard between the index finger and the blade itself.
i like the ganzo knives but would be uncomfortable using one in a heavy duty situation. my daughter carries a ganzo 704 but she weighs 110 pound soaking wet. im 6'2" and weigh 105 kilos, i can crank down pretty hard on a knife
Well, cannot comment on that but might say about this Enlan:
http://www.exduct.com/Bee-Enlan-Pocket-Knives/Enlan-Axis-Lock-Knife-EL02.html
I got this recently and despite having an Axis lock (which I like a lot) it is a bit hard to open.
The axis release stud is smallish and a bit sharp, also more force needed than in my Ganzo:
Enlan EL02 is better in hand and looks quite good but Ganzo is easier to use, so it's the one I use.
Comparing to SRM 762, it is as easy to open. Enlan is harder than 763 to open IMO.
Might just make a give-away with than Enlan EL02. Just that I think it is very common knife, probably majority here has it already...
My vote goes out for the CRKT M16.....nice knife that uses teflon bearings at the pivot screw.
I just realized transponson is from the Peoples Republic of Massachusetts, hence all of the knives mentioned in this thread are illegal for him to carry in certain areas. I am really sorry man, my mom lives there also and it's a sad situation to say the least. Here is a copy of the latest Ordinace for the city of Boston so you can review them before you get caught Lawrence, Cambridge, Revere, Lynn, Salem and Beverly also have the same blade limits.
16-45 PROHIBITING THE CARRYING OF KNIVES OR SIMILAR WEAPONS
16-45.1 Carrying of Weapons Prohibited. No person, except as provided by law, shall carry on his person, or carry under his control in a vehicle, any knife having any type of blade in excess of two and one-half (2 1/2”) inches, (except when actually engaged in hunting or fishing or any employment, trade or lawful recreational or culinary activity which customarily involves the carrying or use of any type of knife, or (b) in going directly to and/or returning directly from such activities, or © if the knife is being transported directly to or from a place of purchase, sharpening, or repair, and if packaged in such a manner as not to allow easy access to the knife while it is being transported), ice picks, dirks or similar weapons that are likely to penetrate through police officer’s ballistic vests, or other object or tool so redesigned, fashioned, prepared or treated that the same may be used to inflict bodily harm or injury to another.
16-45.2 Distribution Exception. This section shall not apply to persons who, through entities or establishments engaged in a recognized retail or wholesale business, are involved in the sale, purchase or repair of knives for trade, sport, hobby or recreation, including without limitation persons engaged in the transportation to or form such entities or establishments.
Bottom line: 2 1/2 inches, no ice picks, nothing that can pierce police body armor, no shanks, I'm sure you get the picture.
Dang, SRM 763 is only a couple of millimeters too long…
File it down a bit? 
Wow, Thanks e1320. I had no idea it was that restrictive. It figures, we cant even carry pepper spray without a special permit. Things like this make me want to move to NH more and more. I wish they had more science jobs there.
anyways, any recomendation for a "legal" knife of 2.5" or less?
I'm not a real "knife guy" but I did check out some knives a year or so ago and bought a few and that was the end of my knife hobby but the one I like the most is the Boker Plus Exskelibur II.
It can be had online for around $35 I believe. Here is a YouTube video I found in lieu of posting a picture.
Cold Steel Tuff-Lite (not the mini) is my current small fave. Wharncliffe blade, Tri-Ad lock, wicked sharp.
EDIT:
Here's one next to the UF-T50, for scale.
In regular grip, it is nicely hidden:
Reverse grip:
One of the nice features is that it won't cut your finger when closing:
I have not tried the tuff-lite yet because I thought it might be too small but looking at your pictures that they did a good job of making a good hand filling grip even with the small size...looks like one to try.
Oh no....another cold steel to buy...lol
Kershaw Skyline
That was the best folded knife I have found, Very well designed and easily kept in pocket, thinking of buying one of it…!!