I have Bow River and also a Waterway, and to be honest, there is not really 3 times better finish on Waterway. I paid around 50 € for Bow River and about 150 € for Waterway. Bow River has as good finish as you can get, plus sheath that you can throw on custom knife and noone will complain. Steel-wise, there is a big difference, handle is completely different, more process with Waterway handle, but the Bow River is really good.
I mean, Bow River impressed me more out of box then my Police 4 G10.
In the pocket: Chaparral FRN, Native Chief, Police 4 K390, Pacific Salt SE
On belt: Bow River, Waterway