The rambler does seem like the best all around sak for my needs. I just like the idea of having a convenient flashlight that I could use hands free if needed.
The SAK keychain knives with LEDs are not "hands free". The "switch" is the Victorinox logo, and it's a simple push switch that turns off when you stop pushing.
If you want a keychain flashlight, I have 2 schools of thought - either get a AAA powered light or a rechargeable one.
There's a myriad of rechargeable keychain flashlights out there, and you should be able to find one that suits your size limits and brightness needs. The Nitecore TIP is only $20, puts out 300 lumens, and can either have a UV side light or a red LED. RoyVon makes a bunch of fantastic lights too (I suspect the same manufacturer makes the TIP, as they have some obvious similarities). I have a RoyVon Aurora that puts out an absurd 650 lumens (turbo burst), but is smaller than almost any AAA flashlight. Plus it glows in the dark. The obvious advantages are that they're rechargeable by USB and output will be better than any that run off of regular batteries.
The other I recommend is one that runs off of regular AAA batteries (or AA if you want to go bigger/brighter). Except for one that are designed to run off 10440 lithium ions, they'll never approach the brightness of the rechargeable keychain lights or 123A powered "tactical" lights. However, the 70-120 lumens they typically put out is more than enough find your way down a dark path, find your fuse box or the bathroom in your house during a power outage, or help your friend find their keys they dropped under their car. The one advantage such lights have over rechargeable keychain lights is that you can use any AAA battery. Most of us have some lying around somewhere, and in an emergency, you can always cannibalize from other devices; TV remotes, toys, that fancy no-contact thermometer you bought during the pandemic, etc.
Or you could be a weirdo like me and keep both a rechargeable and a AAA flashlight on your keychain.
I'm personally not a fan of coin cell keychain lights. They do have the advantage of being very small, but they're not very bright, they don't stay bright very long, and the batteries aren't always easy to find unless you buy a bunch on eBay and even then changing them is a chore.
