I got the Wave as a Christmas gift, a few years ago.
At first I really liked it. The blades were easy to open, it seemed really useful. I liked the rounded shape.
But, after using it for a while, I found that it did not compare to my old supertool.
First, the screwdrivers don't lock. It gets really annoying after it closes on you for the forth or fifth time while trying to get a screw out. Also - what's with all the flat head screwdrivers, anyways? How many do we really need?
Second, the blades come open pretty easily. I've had them come open a few times while using the plyers. Kinda scary, actually.
Third, on mine at least, it is impossible to tell between the serrated and non-serrated blad without opening.
I do like the file, the saw, and the two blades. IMHO, the tools inside are darned near worthless. The scissors are slick, but are attached to a heavy handle and are very short.
Being as how I carry a one-hand opener, the blades barely ever saw any use.
Overall, the wave is sort of neat, but not very useful. The Supertool, PST, or one of the great SOG tools seems to me to be a better choice.
-- Rob