The Glock knives are decent...definitely needs sharpening from the factory, and yes, they are balanced for throwing.
I haven't used it much, myself. I've heard it isn't all that great at holding an edge, but, we'll see. For a $30.00 knife (actually paid $13, woot), I'm not expecting it to jump through hoops. It definetally had a nice feel to it, though. It's nice and light, too, which is good and bad.
Oh, and ya' gotta' love the built-in bottle opener, which I've tested. It works quite well.
-Vic