"The question is... is it better to spend $25 for one quality Leatherman squirt to keep in your EDC? Or buy a half dozen cheap but workable replacements and put one in each kit, with extras for the car, the office, etc."

I would say both. I have a Leatherman that I use for EDC and another in the car. I have a $5 multitool in the tackle box that gets a lot of use removing fish hooks and crimping lead. So, I say get a good guality one for those places where you need a good tool and store the cheap ones in places where a cheap tool is good enough. (A good primary and a cheap backup). Also, the cheap ones are good to loan to your brother-in-law.

New addition to Murphy's Laws:

The first time you take a Leatherman fishing, it will fall in the lake. $5 multitools only fall inside the boat.