I have been read wrong. I do not believe multi-tools are not worth carrying. I carry one everyday, and have for the past seven years or so, when I first began carrying the gerber multi-tool I still remember fondly. It wandered away, and I was forced into buying a swisstool, because I was a cheap college student when I had to replace the gerber that walked off with some <insert expletives here> scouts, and the salesman gave me a kicka$$ deal on a swisstool, but wouldn't drop the price on a gerber at all for me.
I do believe multitools have value. I do not believe the utility of any single tool on such a device comes anywhere near a full-up version of said tool. If I were an electrician, I would carry a pair of pliers, a stripper/crimper, and probably some other tools. I am not an electrician, and thus can make do with a tool that tries to do all of those things, and more. I have used my belt tools for everything from removing splinters and opening beer cans to repairing my car and bike (Generally it's the bike or walk, the car usually limps anyways) to pulling things out of acids (The lab never missed the glacial H2SO4, and we sure enjoyed it). I spent two years working maintenance at a scout camp, and a third at a state park. (Year two at said scout camp was where my Gerber wandered off) I used my belt tool more than the tool box in my truck. But when I needed a serious tool, I broke out the tool box.
If I were in an emergency, and needed to travel using a map, I would hope I had a good compass somewhere. If not, I could use a dial watch, like the one on my wrist now, to accurately establish at least eight or sixteen directionals, which approaches or surpasses the accuracy of most small dome compasses. When I need an altimeter, it better be a good one. Regs say the one I fly with be 75 feet or better, and I'd like it to be closer than that. It's good to know how much room is between you and that runway, or better yet, you and whatever you aren't trying to land on under you.
So, I still say multi-tools are not as good as an assortment of individual tools. If I need a specific tool for a specific job, I should make sure I have that tool. But if you just think it will be nifty to have that assortment with you, carry the multi-tool. And there is still the cool factor associated with being able to say, "I skiied over X thousand vertical feet today".
Stryver