Haha, I think I had that same crappy multi-tool when I was roughly that age.

My gear at the time consisted of:
-Official Cub Scout Utility Knife
-Knock-off multitool
-Real Maglight (Maglight actually used to be one of my fathers tenants)
-Mylar space blanket (the kind that shreds easily)
-Knock-off Zippo
-A good map compass my parents bought me
-water bottle (the white plastic squeeze kind you used on a bicycle)

That and a first aid kit was pretty much it, though at the time I never strayed far from camp.

If anything it taught me how to quickly change maglight bulbs in the dark. <img src="/images/graemlins/smirk.gif" alt="" />