I have an older model of the victorinox swisstool and it's a good tool. But unless the most recent models have improved a great deal, the leatherman wave, core and surge are all better.

The swisstool has a different selection of tools, including a small prybar kind of thing which is neat. And they all open from the outside. BUT using the pliers is not as comfortable in the hand as the LM's, there's no hard wire cutter, and both knives on the VS are quite mediocre. Really not good for heavy cutting.

Sizewise the closest LM comparison to the swisstool is the core, and even though all the core tools require opening the tool - none open on the outside - I would take the core any day. By the way, the core has a really nice awl, but no scissor.