Mine is the cheapie ($18-20) with the horrible flimsy side-opening nylon sheath. Takes a great edge with a simple Lansky, too. Actually, this one out performs my Ontario GI machete.
As for paracord, I am pretty redundant with the stuff...laced into my boonie hat, coiled lanyards on every knife (fixed and folders), whistle, flashlight, signal mirror, firesteel, and every other tool and gadget that will accept that wonderful stuff! Add another 50 foot hank tucked inside my PSK and I feel that I am well enough supplied with cord so a permanent attachment to the handle shouldn't be an issue.
I guess experimentation will the order of the day. Thank you all for the comments/suggestions!