I own and often carry a Wave, and it is a great tool. My only problem with it is that many people have noted a bit of play at the joint area in closed position, and mine does it, too. The handles flex and jiggle when I use the blades which, although not affecting the function of the tool, can give one the impression of less stability. However, it works fine, and IMO carries on the belt more comfortably than my Supertool or PST II.
I'm interested in looking at a Pulse. From my observation, the Pulse's pliers are Wave-sized (i.e., a bit larger than on the PST). It seems to have basically the same tools as the PST II, a bit upgraded. So the Wave has more versatility, and possibly the Pulse a bit more perceived stability (plus all locking tools).
Jim