For several years now, I've been jonesing for a Smatchet. Smatchets are massive fighting knives featuring a ten-inch leaf-shaped often double edged blades that were designed back in World War One as a backup weapon when most folks were packing long bolt actions with long sword bayonets. The shanghai shadow is not a smatchet, but the 7 inch blade is very similar. Cold Steel lists it under their throwing blades, but I have serious doubt about its abilities in that. It pretty simple, carbon steel construction with smooth polymer grips. The large ring I find rather useless and in the way of making this actually a cool fighting knife. The guard functional, but not very good or even cool looking. It is however, extremely sharp out of the box. Play with this at your own risk. This thing may be a $25 Chinese cheapy, but it is extremely sharp and the steel seems quite solid. I have no doubts that it could certainly serve as a fighting knife. It has the length of blade to hit the vital organs and just enough heft to chop someone to pieces. The sheath is predictably barely functional and outright junky. If you wanted to carry this thing, you'd need to find or make a better sheath for it.
I really have no serious use for this, its there to look kinda cool and be something sharp if I really needed it. If you're looking for something just kinda neat but not expensive to scratch that knife itch, give it a try.