I've had my original leatherman wave for a few years and absolutely love it, I think it's one of the most useful tools ever created. At the same time I hate SAKs with a passion, I think they're just a notch above a paperweight in terms of usefullness.
I find it interesting that so many people hold swiss army knives in high regard. I think it's mainly because they are often the only socially acceptable knives to carry, and many people have no experience with other multitools, and perhaps a bit of boy scout nostalgia.