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Looks a bit thick if you ask me. Is it padded inside?

That's right, it's thick, but then so is the ASH <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

Also it's a pouch type sheath, so the thick handle also has to fit. But it's very well made and will prolly outlast the knife <img src="/ubbthreads/images/graemlins/cool.gif" alt="" />