I like my LM Crunch, I wouldn't carry it as a primary multi-tool but it does add fuction to my kit as a second tool.

I've went away from multi tools for my dedicated truck kits, figured in there I didn't need to save as much weight as in a PSK/BOB. I see two of the three LM squirts, the wirestripped sofd at radioshack is quite nice even if it is overpriced, the migher quality machines steel for the stripper part is much better than the stamped steel in most wirestrippers.
My truck kit mostly fits under the seat (big pic, dailup beware) http://www.ninefamily.com/images/im002266.jpg

The bag to the very right of the pic holds jumper cables foded up, behind it are some tie down straps for holding whatever I might be hauling in the bed, Black bag next to that is an Eagle creek waist pack which has tools, wire stripper, screwdrivers, socket set, etc. Green thing is a wrench roll, it has pockets for wrenches, some are bigh enough to double up so I have about 20 wrenches and a nice long 1/2" bar with 3/8" adapter for when I need an extra long handle on a socket for rusty bolts or to stick in the fan belt tensioner and pull it back to change the belt. Then the stock jack and lug wrench with a pipe extension for the lug wrench and not shown is a plastic bag with a tow chain and gloves. Under the passenger seat is a first aid kit and under the drivers seat is another eagle creek waist pack which is a BOB. I'll have to break everything out and take some pics.

I still have a lot I need to add, still haven't added a good knife, need better first aid kit, store some food/water, etc. Have a big tarp in the bed but I want to get a larger one and some rope so I could make a shelter if needed.

The two squirts are in my repair kit, one is a pair of pliars one is a pair of scissors.

You should pick up one of the EL's its my favorite of all three, it has a much nicer file on it too.

That was exactly my solution for a real compact spare kit.

Ive done the same, put together a small kit from the three squirts, trying to find the perfect little pouch with pockets the right size for them.