IMHO some of the ideas put forward on this thread are a little unrealistic.

An ice axe is basically not suitable for general walking, it's a specialized tool for ice/winter climbing.

A typical hiker or outdoorsman will never need an ice axe. Unless you've had plenty of qualified instruction in winter climbing there is absolutely no reason to get an ice axe other than novelty value.

I guess you could carry an ice axe in summer on well established trails, but I just can't see why. A small hatchet and a hiking pole weigh about the same and will accomplish a lot more in that sort of situation.

But sure, an ice axe with a serrated pick does look awesome.

You can always think outside the box and improvise, but it may not always be worth the trouble. You could use a hunting rifle as a walking aid and for pounding tent stakes. Would it make sense? Probably not.