The German made PUMA's are top of the line in my opinion, although the new ones are all made in China now.
Sorry to say, PeterT, but the current knives coming out of the Puma factory are pretty poor, and have been for some years!
I bought a beautiful 4 Star 3 inch lock knife probably 20 plus years back, and it is superb! Certainly as good as any Puma ever! A few years later I bought the matching 2 inch, and it was frankly awful! The blade is nowhere nearly as well ground, and the fit (Puma's trademark) is awful!
The present state of play is that they still produce knives made in Germany (mostly the old patterns) but don't be deceived, the quality is nothing like the Puma of old. Don't know what's happened, whether they've lost the skilled workers and just can't produce the stuff, or if they took a decision to go downmarket. Either way, the old quality has gone.
Puma produce a second line they call 'IP' (International Production). My understanding is that these are made in Spain. They're not bad, the ones I've seen no worse than the current German stuff, but the patterns seem to be new ones, and I've seen far better coming out of Toledo than this!
There is a third line called Puma Tec, and Puma seem evasive as to where these are made so assume the worst! I havn't seen any of these, as none of the British or German cutlers or gunshops I visit, that tended to keep Puma, have bothered with these! I don't have high hopes!
If you like German patterns, or more importantly German quality, there are loads of other options though! I personally love Hubertus knives, and although they don't have the advertising presence of Puma, their knives are superb and their range perhaps even greater than Puma's!
Many other makers have a speciality, and the 'gentlemans' knives made by Frederich Hartkopf now, are every bit as good as those from Puma in the 1990's or the top Sheffield makers of the 1890's! These are my reccomendations!