I have a SAK "Huntsman" and "Tinker-er" and i really like the Huntsman. I've also had a "Champ", but it was kinda ackward to carry - too big for pockets (i *hate* having stuff in my pockets) and strangley too small for a sheath carry. In any event, i stopped carrying/using all of them (sold the champ long ago) after getting my Leatherman Wave.
On the Wave, i like the pliers wayyyy better (i can really grip stuff with 'em), the knife blades are all locking so i like them better, the main blade is just as good or better than the SAK blades (super sharp tip), the saw blade is just as good, i like the scissors better (though they are fiddly to use, but sharper), the serrated-edge blade is my "hope i don't have to use it" blade and *wicked* sharp, and finally, i prefer the screw-drivers on the Wave.
In every regard the LM Wave is a superior tool - except weight.
It's never in my pocket, but in my EDC camera bag and goes on every hiking/mountaineering trip i've taken since i bought it - 12 years ago. It's been all over the world and does what i've needed it to do.