I've had the first gen Leatherman Wave for a while now and it only gets better with age. If I get my hands on it I just open and close it, even if I'm not gonna use it, just for fun. You can open it kinda like a rusty butterfly knife once it loosens up. Oh, and I forgot it's also functional. I use it for just about everything from prying my broken key out of my ignition to sawing through match sticks to stretch my pennies.
Seriously, I love the Wave. I bought it when I had just enough money to justify it and now I can't imagine having spent my money a better way. It's light, functional, efficient, and has a really good warranty. A lot of multitools are out there and they all offer something different. But, I can't imagine using a tool in as many ways as I do the Wave. All the tools on it are practical and make sense, no frills, just function. Anything you can't use the wave for there's a special tool for, like a knife or a screwdriver.
A multitool is just that, several tools in one. That is to say, several mediocre tools to replace the real things.
You cannot disassemble a car with a multitool. But, you could get pretty far with a Wave and a bottle of whiskey.