Although I mentioned earlier I generally prefer Victorinox, during the week I picked up a couple of Wengers, one is called the Traveler, the other is the Cascade (with locking blade). Both are typical, medium-sized SAKs.
Now that I own some regular-sized, I make this comparison of this sized knives:
The Wengers in closed position are not as long as Victorinox. Therefore, the similar tools are also a bit smaller. Although I like the positioning of Wenger's toothpick and tweezers better, I do not like Wenger's toothpick...it feels flimsy and cheap. On the liner next to my Wenger Traveler's main blade, the aluminum(?) scale moves a bit forward with the blade during closing, but snaps back into position when the blade snaps closed (is this by design??). Doesn't affect the knife, though.
The main blade of Victorinox is slightly slimmer. Both walk and talk, but Vic does so a bit stronger. The Wenger scissors are a great idea...the spring on the Victorinox's scissors seems a potential weak spot. But it's harder to use Wenger's scissors for certain very fine tasks, due to small serrations, and esp. because by design there is slight up/down movement of scissors when you use them.
The locking mech on the Wenger Cascade works well. I would prefer the unlocking lever were more recessed, as it sticks out from the handle a bit uncomfortably.
The red plastic handle scales of Wenger feels slightly thicker, it seems a bit more "rounded."
My fave is still Victorinox, but I now have more appreciation for Wenger brand now as well.
Jim