Well made tool!
I love my Leatherman Wave and use it all the time. From mountain biking, snowmobiling, hiking, dirt bike riding, etc... my wave is always along for the ride. It's well equipped with all the basic tools you will need and very comfortable to hold. I will agree with one other review that says its a bit heavy. But I guess its a trade off with having so many options.
I also really like the outer blades. I use the outer knives a lot and its super easy to open them with one hand and I really like not having to unfold the tool. My wife has a Gerber multi tool and you can't even compare the too. The Leatherman has better tools, is more comfortable to hold/use, and it way better built. The wave is a bit pricey, but worth it if you take care of it and keep it clean. It comes with either the leather sheath with a snap closure or the nylon sheath with Velcro. I highly prefer the nylon sheath.