I like pens with inscriptions.
Many people don't like inscriptions but that's even better for me as I can get them cheaper!
My favourite is the Parker Vacumatic with dedication, I get a warm fuzzy feeling every time I use it and read the names and date.
I don't care much for initials though, real names are better, dedications are the best :)
(the white paint is just a coloured pencil, easily removable and acid free)