For personal/edc carry, your idea sounds pretty good to me. I'd probably add an on-site folding knife purchase (maybe a Gerber LST II for around $20) and mail it home later with the PSK.

Still, i think you could pack some some supplementing gear in a shaving-kit sized bag in your checked luggage. Just make it's stuff you can afford to lose in case some TSA guy or gal does grub it up.

I've flown several times with an original Leatherman in my shaving kit in my checked bag, and no one's filched it yet.