I picked up about 4 of them when walmart was clearing them out for $19. I don't really use it all that much because it's a lot heavier than a normal multi-tool, so it sits on my shelf and in my car.
They are really well made, I actually think they are a little better than my leatherman wave, and a whole lot better than the gerbers. Blade quality - I haven't tested it all that much, but I have an 10 year SOG paratool that has a pretty good blade. I don't think it's made of any of the fancier new metals, but it works well. SOG makes pretty good knives, so I assume their blades on the pliers would be good too.
At first I thought the whole compound leverage design was just a marketing gimmick, but I've actually tested it, and it really does work as advertised. A coworker and I were comparing the grip of different multi-tools, so we played a little tug of war with a steel wire. The SOG powerlock won everytime, no matter who was holding it. I know his grip stregth isn't as strong as mine, so it does say something about the compound leverage. You do lose the about half the range because of it, but it's never been a problem for me.
There are a couple minor issues, but nothign serious. The biggest drawback is the size and weight. I can't imagine carrying it around with me, but in a car or at home it's fine