They provide numerous advantages:
1. There is increased edge retention compared to shorter blades, as there is more edge to dull.
2. There is an increase in efficiency. You are spending fewer cuts on the same jobs. It is easier to cut foods in half with a single cut, foods like apples, onions, cantaloupes, etc. It is easier to slice steaks, chicken breast etc. with single slices rather than sawing back and forth.
3. There is an increase in versatility. Imagine you are hiking up a mountain and the trail you're on had some briar throrns recently grow across it. You could chop through them more safely and effectively with a Police, Szabo Folder etc. than a smaller knife. It is easier to use my precision grip on a Police to slice tape on a box and cut out a newspaper article than it is to try to make a Dragonfly cut through thorns on a trail or half a cantaloupe.
4. Bigger blade = bigger handle, at least on folders. Blade size is not the only thing to consider - handle size matters too. 3" to 3.5" of cutting edge is a useful blade length for anyone to EDC. BUT, a lot of handles attached to 3" to 3.5" blades simply don't feel good. Delicas, BM 940, Kershaw Leek, Mini Manix, Endura 4....these don't feel good in my grip. My Police, Military, CS Large Voyager, BM Rukus, Manix XL....these are much more ergonomic.
5. Easier to operate. Big folders are easier for me to open and close, especially with gloves on. I wouldn't say an Endura is tough to open and close, but once you get down to the Delica size, my hand certainly needs a more concious effort to operate it.
6. Less chance the things you're cutting will slip off the tip end. When I break down a big box I'll cut it in half, stack those two pieces, cut them in half, then repeat. Cutting 4 or 8 layers of cardboard at once with a smaller knife, there's a good chance those last few pieces are gping to slip off and not get cut. With so much cutting edge materials are more likely to get cleanly sliced before they can reach the tip.
So for me, comparing an Endura 4 and Police....the Police is more ergonomic, more versatile, more efficient and has better edge retention.
The only downsides (for me) are an extra .75 oz, which will be cut down to about 1/4 ounce with the Police lightweight.
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If a knife feels too long in your pocket, clip it IWB, to a cell phone pocket, a boot or cargo pocket. Right Front Pocket is what, one of twenty places you could clip it?
If a blade feels too long for fine tip control, this grip lets you get right up to the tip on blades under 5" or so:
Lastly, design matters A LOT. With some big knives...they
feel like big knives. Others carry their size with more grace. The Police 3 & 4 never felt like big, unwieldy tanks. They're light, narrow, slim in the pocket and have an incredibly efficient blade profile. They handle like a smaller knife IMO.