I am with you on the qualities of the Skeletool. The Wave is a close second. The problem is I have decked out my wave with a Bit Kit and a Bit Extender, increasing its versatility and also its weight. The pouch I use has a perfect spot for a 4" adjustable wrench, more versatility and weight.

Consequently,I only carry the augmented Wave when I am around mechanical items and the weight is not a problem. The Wave by itself is a great tool, just a bit too bulky for pocket carry, but great on the belt.