Leatherman WAVE, hands down - but that's because it suits me and I don't abuse it (much). It re-defined multi-tools for me. The bigger Leatherman Super Tool is sturdier but I don't find it as convenient FOR ME. The WAVE is not perfect, but it does what I want well enough.

Haven't fiddled with the new Gerbers - the previous ones raised too many nasty pinch-blisters on me - but the ability to swap plier jaws is interesting, and it looks like they don't pinch anymore. There were/are some features on the Gerbers that I liked <shrug> they're at least worth looking at if you can handle it and fiddle with it. I wouldn't buy a multi-tool I'd never used if it's on a card or in a blister pack - you gotta wrap your paws around it and see what it feels like.

Whatever you get, if you spend $50 or more on it, spend another $5 and get your name engraved on it at a Jeweler's. Helps folks remember to hand it back to you...