I'd like to revive this old thread to share my observations.
Living in Germany, I can buy pretty much everything made in Germany for very, very reasonable prices. On the other hand, US-made stuff such as split joint pliers is simply not available here for anything resembling US prices (so I'll have to pick up some split joints the next time I visit the US).
When German makes are concerned, here are my observations, sorted in the order of preference.
1.
VBW. These are branded "Stahlwille" on the other side of the pond. My experience with VBW pliers has been consistently positive, and I came through many pairs of combination, straight and bent long nose, side cutters and water pipe pliers (Alligator style). Their combination pliers pass the paper test with flying colors, properly gripping the thinnest sheet and cutting with an audible "click". The pliers work extremely smoothly; not too loose, not too tight, and no wobbling whatsoever. Finish is perfect. The quality of chrome plating (if used on a particular model) is great, with no chipping even after extended use. Their QC is exemplary; the quality has been consistent in all my samples. Here in Germany it is possible to get some of them slightly cheaper than Knipex, but their quality is, IMO, better. (At least some Cimco and Garant branded pliers are made by VBW).
2.
Knipex. Yep, IMO, they are number two to VBW. Larger size combination pliers (200mm for sure) may not hold a sheet of paper; moreover, their QC is inconsistent, as I've seen a gap between the jaws measuring from about 0.2 to about 0.7mm (!) on the same model pliers. I've seen rough sharp surfaces and chipped chrome on brand-new samples. However, their chrome plating holds up well in use. The combination pliers will cut a piece of paper with an audible "knip". (Knipex pliers are also rebranded by "Würth").
3.
NWS. I mostly use their CombiMax pliers (very smart!), Fantastico side cutters, and their PowerBolt cutters, all in "titan" (PTFE) finish. My observations are that NWS QC is even less consistent than Knipex'. Most samples open and close with a kind of dry, "sandy" feeling (oil does not help much). The PTFE coating is not very durable; it wears and tears when these pliers are kept in the box.
However, in my opinion, NWS chrome plating is the worst I've seen in any pliers made by any manufacturer! It chips and flakes by itself even on brand new samples (OK, most of mine are "new old stock", but they are new and unused). I had one pair of pliers dropped on concrete, and this made a large area of chrome plating come off. Nothing like that happens to any other pliers I ever used.
This may sound like a big rant, but in practice I love my Fantastico, my PowerBolt and my CombiMax, especially for the price I paid (less than 20 EUR each). They do a great job, and they are very comfortable to hold.
(NWS pliers are often rebranded by local store brands such as Lux (Obi), E-TOP, some (but not all) Circum, and a few others).
3.
Orbis Will. Another quality manufacturer with a large range of pliers. They mostly sell OEM, so you're likely to encounter these branded Connex, Promat, Uniqat, Atorn, Black & Decker (VDE series), "100% Schwartzarbeit" and many, many others. Orbis even has a dedicated brochure on private label:
http://www.orbis-werk.de/uploads/media/Private_Label_2010.pdf). Orbis belongs to the Knipex group, but maintains separate design, manufacturing and marketing. Their pliers are generally cheaper than Knipex, but not by much.
Quality wise, I find Orbis (Connex in my case) to be slightly below Knipex. Build quality and finish is better than NWS; chrome plating does not chip or flake. However, QC is not 100% consistent, and some of their combination pliers won't pass the paper test (e.g. some samples won't cut through a thin sheet, or will cut without an audible "click"). However, considering their lower price, this is still acceptable (and remember, we're talking about some of the best pliers, so they are still much better than any DIY stuff - and not that much more expensive either).
Finally, I'd like to post some test results from a German DIY magazine. The PDF files are in German, but their numeric ratings are self-explanatory. When reading, please keep in mind that "LUX" = NWS.
http://www.selbst.de/pdf/kombizangen.pdf
http://www.selbst.de/sites/default/files/Test-Zangen-1010.pdf
http://www.selbst.de/pdf/zangen.pdf
http://www.autoclassic.de/_downloads/freiedownloads/autoclassic/ac_test_Zangen_web.pdf