Without question, the multitool. I'd even take a SAK like my Recruit, Hiker, or Mechanic over any of my "tactical" folders, for the same reason you mentioned-preparedness. With a knife, I'm prepared to cut stuff. With a multitool, like the Wave or ST200, I'm prepared to cut stuff...and tighten/loosen screws, open bottles and cans, pry with the screwdrivers or pliers, saw wood, plastic, PVC pipe, or sheetrock, file any number of materials from metal to fingernails, not to mention all the things you can do with pliers and wire cutters.
My one hand openers are much better for use as a weapon, and are more quickly and easily deployed, while having better steel for longer use without sharpening than a multitool's typically inferior steel. Aside from the weapon aspect, convenience is the only real reason I have for carrying one (funny I have so many, and put so much thought and money into them compared to what I've spent on multitools).
Multitools and SAKs do not have "good" tools, by any stretch of the imagination, but they are tools that you can have with you all the time, and that is what being prepared is, to my way of thinking.