I totally agree Falcon,
Look at any serious survival school and the one piece of equipment that they will tell you that you really need and can do the most with is a big substantial chopping knife. If you have this one piece of gear you can make it. All the other tools like multi tools, saws, axes, etc. are nice to have and can extend your repertoir of capapble tasks, but IMHO you simply gotta have the big chopping style knife. There is always one in my vehicle and my bug out kit for this very reason.
I also agree with your plan for unexpected events, go to Wal-mart and get what you need if nothing else is available. The problem is, once an emergency of any magnitude occurs, these are the first things that disappear from the store shelves, taken by all the num-knuts that neglected to prepare. Example: There was a lot of looting in Wal-Mart stars and others after hurricane Katrina. The news showed people taking color TV's and Stereos but the stuff that went first was food, water, tents, batteries and other camping/survival gear like propane cartridges, stoves, ponchos, bug repellent, etc. If it had been a colder environment things like sleeping bags and warm coats would have topped the list.
Kix