The main thing keeping me away from the peanut is cash, getting one in Buenos Aires costs more or less four times as much as it would cost for you guys to get one in america. Even if I buy it on-line, once you add international shipping charges and taxes, it can get pricey. Specially in a country with currency that's weaker than the dollar. I've spent a bunch of money in customs lately, so I just need to pace myself a bit.
I don't doubt the usefulness of a small knife. My dad carries a Victorinox Executive quite often, and he gets the job done all right. I've got quite a few pocket fixed blades that seem tiny but pack a lot of utility (Fireant and Mikro Canadian, to name a couple).
Re: Food. I couldn't agree more, silenthunter. My slippies get kitchen duty all the time, but not my "tacticals", I don't know why but it just doesn't feel right. I spend a lot of time outdoors and my pocket knives, specially my trappers, cut a lot of snacks and prepare a lot of food.