[Crex]

I had pretty much the same conversation with Kit way back at one of my early TR Hammer-ins. He was pretty vocal about the negatives and I totally understand where he was coming from. However, the non-positive retention issue applies to all pocket knives not just those with clips and can happen with any of them whether clipped to the pocket ledge or laying around in the pocket in general. He had no rebuttal for that (not that I was being confrontive, just stating a given).

OP asked what one prefers - I prefer point up, based on my experience with doing electrical work and other things while on a ladder, pipe gallery, tree, etc. With only one hand free, I don't like to be fumbling around orientating a knife while trying to get something skinned, cut, trimmed, etc. while maintaining control of the situation. Bottom line is be smart enough to secure a knife that has positive retention in the first place.

Yes, I have had knives that were a little "loose", but found them inappropriate for my situations. They usually reside in my box of junk knives up high on a shelf in the shop.