Thanks for the assistance, guys. Hopefully the GRS is waiting at the post office for me now, so I'll be back for more help once I see the damage first-hand.
When I was at the craft shop picking up sandpaper, I noticed they did have some sort of adhesive (may have been epoxy) specifically for leather repair. Maybe that will be the way to go.
Also, where can I find Flitz, aside from their website? I have yet to find a well-stocked auto parts store locally. Would somebody like Wal-Mart or Home Depot carry it? Currently I use Marine Tuf-Cloth on all my knives, but I'm working on expanding the maintenance toolkit. Need to protect my investment!