This thread is wandering around on more then one topic but, I'll give you my recent experiences flying from the USA to Europe roundtrip. Knowing beforehand that everything between emory boards for a manicure to normal pocket knives would be confiscated at the security checks at the airport, I put my knife and anything that could possibly be construed as a weapon (except my shoes

) in my checked baggage for carriage in the belly of the airplane. This got me through a domestic flight to Los Angles, on to Heatherrow and, finally to Amsterdam. This was roundtrip on United, American Airlines, British Airways and, British Midland and included various levels of pat downs and other security measures that ranged from a public relations event

to real security.
If you put anything of value in the belly of an airplane, you are being very foolish. You are faced with potential unintentional bag loss, intentional theft and, rough baggage handling. Yes, the airlines insure your bags against loss - anybody care to guess how much it used to be and currently is?
If you have anything of value that you CANNOT carry on your person and carry on baggage, ship it via UPS, FED EX or, the US Postal System where you can insure it for true value and track it.
General, unless you have a real reason to travel with that many knives, I would strongly encourage you to leave them at home - taking only the one you intend to use. It just isn't worth the hassle going through customs TWICE each way and all the security hassles. In my case, loss of a Victorinox Spartan would not be good but, much better then loosing a Kit Carson Model 4. The Spartan did everything I needed while in Europe.