[pwd72s]

I have the Cobras, 10", with the smaller sized grip..#87 01 250. Love 'em! Never have played with the larger handles, so can't comment. However, red/blue are NOT electrician insulated...think they have a different color code for those. I think you're right..multi component meaning a mix of hard & grip compounds. (edit) It's hard to describe the texture of the slimmest handle compound. The non-slip grip it gives is top notch, while not hard on the hands at all. So, I don't see a need for the larger grips...but that's just me.

Chrome? All I do is just dry mine off if used in wet...I wouldn't pay extra for it.

Although you only mentioned water pump pliers, I also have a pair of Knipex "Twin grip"...#82 01 200. They have a feature on their nose for gripping & removing stripped screws..plus a unique jaw shape vs most standard slip joint pliers. You might want to take a peek at those.

Knipex..weird name, but great pliers!