Ive gone through three Leathermans in 12 years of heavy use. The first one was an original model, in an industrial battery shop environment. It dealt with lots of acid and corrosion exposure until I loaned it out, and big surprise, it disappeared, so the guilty party bought me the 10-tool. All things considered that original model did a great job for me- my only complaint being the blades/tools didn't lock back.
I liked the 10-tool, and it was with me a long time, until it got stolen at work when I used it as a door wedge so I could get back into a customers building..That sucked. So to make myself feel better I bought a Wave. The Wave has held up for five years of heavy daily use assembling scientific equipment. The serrated blade could use some freshening up, since I'm constantly having to cut up cardboard so it'll fit into the compactor.