Definately agree that the sheepsfoot would be a good practical design.
When I looked at the 'my first' victorinox, I just laughed; reminds me of the Simpsons "get out your safety pencils and a circle of paper" line.. it's just too safety-orientated, I really can't see the blade shape being that useful, and that's dangerous because if it's not useful the kid will stop using it, and never appreciate the value of having a quality blade about his person.
Locking or fixed blade would be good to avoid accidents, but having said that, how's Johnny going to learn if he can't slip up a few times?
FWIW, my first was a vic SAK (either spartan or climber, I don't remember); the tools on it made me feel like James Bond. I wanted to use it on everything!
Perhaps it would be good if the knife was sold 'bundled' with a small tool set? (this would also reinforce the "tool, not weapon" line)
as for age, the big "one oh" is a nice round figure. People make a fuss of it. Gives the kid a coming of age feeling, too.
as for a clip... no. It'll get lost. Probably not by most kids, but by some certainly. maybe a pouch with a belt loop.
just my tuppence
