One of the best features is the locking blades. Both knife blades (serrated and smooth) and the saw blades lock. This is a great safety feature.
Although multitools include a plier and various screwdrivers, I always supplement my multitool with either a "Swiss Army" type knife or an "offset" screwdriver. This is a necessity as if one is using the plier component of the multitool to hold a nut, one can't use the screwdriver simultaneously.
That said, this is a great tool. The steel and finish work is substandard to Victorinox multitools (yes Victorinox makes plier tools), but the individual Leatherman implements are screwed in - you'll need a special bit to remove the security screws - and replaceable. Victorinox implements, however, are pinned rather than attached with a screw and are not user replaceable.
You won't go wrong with any multitool from any major manufacturer. The Wave is dense, compact, and well designed. If I hadn't recently handled a Victorinox multiplier with its higher quality implements, I would have rated the Wave a "10." After seeing what is possible with such a multitool, I detriment Leatherman one point...