You can also pick up a Buck Vantage from Walmart for like $25 or so. It's the lower model, but still quite nice. I had one but decided to return it because it was too big for me. Still, nice knife!
You won't be disappointed at the Tenacious (and your wife made the right choice in my opinion) - its the best knife for that money, and has the Spyderco fit and finish. All tenacious folders I've handled came razor sharp from the factory. Make sure you invest in a good sharpening system as well (Spyderco sharpmaker is my favorite). Remember, a sharp knife is a safe knife.