Leatherman, hands-down.
At my school, the other serious techs all had full-sized multitools, so I got to try a variety before getting mine.
One had the Wave original, another the new Wave, two others had SOG Powerlocks, and the ASM had a Gerber (can't remember the model). I remember always liking the weight of the Waves, and especially the way that the Wave original felt. Luck was with me when one of my dad's workers (he owned a remodeling business) left town and forgot his Leatherman Wave original in his tool bag. I saw it on a shelf and asked if I could have it, he said yes, and I was the proud owner of a Wave. It fell out of my watch pocket while running across the parking lot and I didn't ever find it, so I ordered another original-style on eBay for $50. My dad has also had 4 or 5 Micras, and they feel great as well.
Leatherman just makes heavier, sturdier tools.