The only things I would put in any sheath pouch is a sharpener and lightweight, unbreakable stuff like a lighter or some bandages, line and hooks, all waterproof wrapped.
Reasons:
1. The pouch is usually in the way when filled with bigger things. Since the pouch is in thigh height, it can more easily snag on something and open than a pouch on your belt.
2. Too much weight makes wearing the knife uncomfortable. It comes out of balance, starts swinging and will give you sores.
3. The pouch get's banged around (or you could fall on it) so all the stuff in there could get damaged.
It's always a good idea to split up your goodies, put the light/non-fragile stuff in a Ziploc (TM) and the heavier/fragile stuff into a compression proof plastic container, i.e. Tupperware (TM). The trick is, each package should contain enough items to keep you going. Put a few matches, bandages, fishing line, hooks, etc. in each container, not everything in one and than put them in different places (hipbelt, backpack, shirt or pocket pants). The keyword is REDUNDANCY. Don't rely on the knife pouch, use it only as a back up.
The modified U2 I have on order will have a Frank Sigman sheath without any pouch.
