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Don't bother hiding your knives. They x-ray your bags and if they see somthing they think looks suspicious, they'll open your bag and find it. They know where to look, all the hiding places.
I travel 50K + miles a year and take a BM mini presidio, McCusta, Leek every time. Haven't lost one yet. TSA did loose my Norelco razor tho on this last trip. I'm betting they just forgot to put it back in my bag. Dips--ts.Oh well, it needed replaced anyway.
If you're worried about theft, do the zip tie thing explained by Slide13.
Zip Tie thingy? explained where? in this thread? maybe i missed it. sounds interesting.