The Leatherman Skeletool was near the top of most of my admittedly-multi-tool-obsessed friends' wish lists this Christmas. Too bad it still hasn't made it to market. (Amazon is currently projecting a mid-March release.)
Now Leatherman is showing off an even lighter riff on the same idea with a couple of minor changes. Called the "Freestyle," the new multi-tool replaces the Skeletool's removable bit driver socket with a combination Phillips/flathead driver that uses some sort of slightly twisted end to make it work with both types of screw heads. (I don't understand how that works, exactly, but the Toolmonger boys seem to get it so I'll just trust them.)
The other difference is a nylon plastic handle which should shed even more weight from the already less-than-husky Skeletool. I presume that plastic handle is also cheaper than the carbon fiber or aluminum of the Skeletool models, since the projected price of the Freestyle is just $50.
Having burnt their customers with a slow launch previously, Leatherman is currently planning to release the Freestyle in December of this year, giving themselves plenty of time to build up Christmas stock.
Preview: Leatherman Freestyle [Toolmonger]