The new Native III a black FRN PE knife and it's a beauty.
The few Native III's I've handled have been somewhat stiff, so was this one but it was easily remedied. After pivot rivet tapping, back spring lightening and smoothing the inside of the handle, mostly at the points, this Native III is even smoother and will be smoother still after a few thousand openings and closings (I love that part). The blade was pretty sharp but it got a short touch up on old school crock sticks and now it slices paper like a demon.
The Native III is slightly larger and slightly heavier than the Wal-Mart Native sitting next to it right now, at least it looks that way. The N III's handle is a little thicker, wider back to belly and maybe longer too. Overall length is a bit more than the WW Native. The III's blade looks a bit wider back to belly, even the Spyder hole seems a bit larger.
Both are extremely handsome knives and both have that superb Spyderco quality, fit and finish and attention to detail. Well, it's more than that, both hold, open and close extremely well, and of course they cut just as well too. Heck, they even carry in the pocket extremely well. It's the design that just kicks a_ _. I love old school knives but these new fangled knives are just better at being knives.
In the hand the two Natives feel the same and yet different by a small amount. Looking at them side by side is a joy as is playing with them. There is one fly in the ointment though, the decision which to carry. The only sensible solution seems to be ........ carry both.