In my kits, I currently have the Mk5 fixed blade but before that I used a Leatherman Squirt and before that the Micra.  Although the 1.5" blade is not as useful as a Spyderco Ladybug, the other mini tools (pliers or scissors) are quite useful.  I still keep one in my jacket (fastened to the inside of the pocket with a fabric loop).  It comes with me on every camping trip as an alternative to the larger Wave.