I agree, Brian. I guess I see folders as more of an adaptation than a compromise. Concealment of the knife (in my state anyway) is an absolute necessity to stay on the good side of the local constabulary.
Personally I think what conceals the blade the best really depends on the style of blade and the clothes I'm wearing. A folder certainly is easy to wear, but I've also borrowed a smaller fixed blade that I sheathed in the small of my back...keeping the blade concealed under my clothes and avoiding the telltale clip on my front pocket.
Haven't made a commitment to buy a fixed or a folder yet...I have the feeling I'll end up with one of each