Updated: Added notes
This is my second Leatherman Wave and I am quite pleased with it.
I am a multi-tool fan and have several dozen Leatherman, Gerber, Victorinox and Wenger tools (plus a good assortment of other less popular ones). There is a reason that the Leatherman Wave is one of the most popular tools. The workmanship (i.e., fit/finish/machining) of the Wave is excellent. Materials are of great quality. Tool choice and design shows that Leatherman has been doing this a long time, though there is room for improvement.
Though it's in a different price range, the tool it seems most comparable to is the Gerber Suspension multi-pliers. The sizes are nearly identical though the Leatherman Wave packs more tools into the same space. The Wave tools are also larger. For example, the blade is almost an inch longer on the Wave.
Like almost all the Leatherman tools that I own, the machining and fit is excellent. Initially there is considerable resistance when opening the Wave, but after a few weeks of use (or a good hour of dedicated time opening and closing each time) the metal seems to wear just enough that opening becomes easy without becoming loose.
Update: After several weeks of use it has indeed become much easier to open but still doesn't feel loose.
The materials on the Wave are excellent. Though I haven't used it with a great amount of force, the pliers are sturdy and the blade, saw, screwdriver and scissors did not deform or break when doing some basic household maintenance. Lesser tools have failed me in similar work. My original Wave had some cosmetic rusting which I removed with a rotary tool and a polishing compound. The steel on this Wave looks slightly different so we'll see in a few months how it holds up to the Florida humidity.
My biggest issue with the Wave is the pliers, most importantly, the lack of a sprint assist makes it difficult for the tasks I need. For example, quite often I find myself pulling large staples and smaller nails from the fencing and woodwork around the outside of my house. These are there for various reasons, including Christmas decorations, telephone and television cabling, etc.. Of all the tools, I use the pliers most for this. The sprint assist on the Gerber Suspension makes this task very easy, not to mention similar work with smaller items. The Wave, though probably sturdier than the Suspension, is difficult to use in these situations. Alas, though the other tools are extremely good quality, I don't use them nearly as much as the pliers. For this reason the Suspension is what I carry around the house.
Finally, pricing for the Wave is not bad. Shop around as there is as much as a $50 difference when I bought mine.
Update: This identical tool is also sold with a Monarch 300 flashlight for the same price. I purchased the combo for $1 more than the Wave alone.Get more detail about Leatherman 830040 New Wave Multi-Tool with Nylon Sheath.
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