I bought a Leatherman knife for the heck of it at Target for about 24.99 , the one with only a knife blade, no added drivers. I think it's the K301. Mine does not have the 154CM blade, but probably is 420HC, and appears roughly bead blasted/stone finished.
It's okay for the price. I like the multi-tools better; however, I mainly bought it because I like LM, and also for a beater knife and the blade-launcher. I like the blade-launcher concept far better that the "flipper" guards on so many tactical-type folders, particularly the M16 knives. On closer examination it's kind of interesting how the blade-launcher operates, and the "stop pin" is actually a part of the steel liner extended out then folded across the back. I'd imagine this would hold up to hard blade flicking over time better than most normal stop pins would.
My particular model I don't think anyone on Bladeforums is going to ever rave about, but I like it as a unique "toy" and for the price it's fine for me. It's no Griptilian or VG-10 Endura in the cutting department, but it does quite well for what it's designed for.
Jim