Reading these posts puts chills up my spines. I live in Louisiana, where knife laws are relatively lax. I am a college student (knives with blades up to 5 inches are allowed at my school) and I never leave the house without my Leatherman Wave and Benchmade AFCK. I bring both because they are so important as tools. Even though the AFCK is equipped with a pocket-clip, I still carry it in a sheath. I figure if its in a sheath, next to my Leatherman, on my belt--then its not a "concealed weapon". What a cop thinks of this---I'm not sure. But I'm really not trying to hide it. No one can even tell I'm carrying knives, my t-shirt covers the pouches up. Most people probably think its my cell phone or something.
I am still choosy about where I bring my knives because discretion is 90% of knife users' problems. I know where I can get away with it and where I can't. Also, only take a knife out when you need it, don't play around and don't open it up really quickly for a mundane task like cutting jute twine or opening a box. There's nothing quite like the "click" of a tactical folder to make people nervous. You'll be labeled as a "Rambo" in a minute. I sometimes carry a little Victorinox Recruit; if someone needs to borrow a knife. Its less intimidating and if they run off with it or lose it, its not a big deal.