I bought this tool to round out my collection of Leatherman multitools. I was not very excited about it, as it looks to me like a stripped-down Leatherman Wave. The only two tools deployable from the outside are the combination blade and the scissors, and both lock, although there's no reason to lock the scissors. The scissors work reasonably well and appear well-made, like all Leatherman products. The combination blade (smooth and serrated) seems fine, but there's no reason it couldn't have been made about a centimeter longer. The internal tools are mostly good, with the exception of the flat Phillips head screwdriver, and the combination file and flat screwdriver. There's no reason to put a short ruler on one side of the file. It could have easily been put the ruler on the outside of the tool, the way everyone else does. It would be much better to put another type of file on the other side. Particularly useful is the package opener blade, which I wish were found on more multi-tools. None of the internal tools lock, but I doubt it would have been much of a design challenge to add. The leather sheath is awkward and bulky, and not worth using, in my opinion.
I have to say, this tool is a disappointment, even though it is still a very good value for the money. Leatherman seems to have handicapped their otherwise excellent design process in this case; not really necessary when trying to fill a lower price-point in the market. They could have done a better job of building a multi-tool for this price range.