I think the Wave would serve you just fine as your main implement. You say you won't be picking up an extra knife, so consider spending a little more money for one of the Leatherman 'Charge' models and you'll get better steel for the main knife blade.

Regarding multitools in general, I used to forgo my Charge when on the trail since I rarely needed more than the knife & saw blades. But, I have since realized that the pliers, screwdrivers, file and scissors will come into play much more if I have to cannibalize various items in a "real" situation. I think Les Stroud is right to counsel survivors to be ready to modify any available item to enhance their chances, and I think this is where the multitool really shines. It will be a critical asset when things go wrong, not so much when they go right.

So now I have the Charge and the Ritter Mk1 with me both on the trail and for EDC.