Lots of good advice. As has been said, and you know, any knife you give to your son will be special to him. I'll never part with my Case pocketknife from my Grandpa. I'm not well versed in production knives, because I haven't used many of them, so won't give my opinion on brands, but from what I've experienced you'll have a hard time trying to find a production knife with a well made leather sheath. A saddle mountain skinner (one of Benchmade's 8in. drop point models) lists on their website for $180. That's not too far off from a handmade knife of (in my opinion) better quality. A lot comes down to what style of knife do you like? Hope something in my rambling is helpful.
Alden
Tjv28: That is good craftsmanship.