I have lost my EDC Leatherman Wave. I am considering getting a new one and not holding back.
What is new with this model and what is good?
Is the belt clip and lanyard ring a positive thing . . .do they work well or is this a gimmick?
What about black finish vs shiny? Is the black durable?
What about the interchangeable feature? Does this make the tool shaky?
Can I find a replacement blade in a premium alloy?
Is there some m oddification or third-party thing I should look for?
Based on your questions, I'm assuming that you had the original 1998 model of the Wave. Here are my answers, in order:
1. Compared to the original Wave, the post-2004 Wave and the Wave Plus (the current production model) are larger, heavier, and more solid. The plier heads are stronger, and all of the tools lock. The Wave Plus also has replaceable wire cutters, which is a nice feature.
2. The belt clip and lanyard ring are ok, I guess; I never use them. I find the Wave to be too large and heavy to carry comfortably in any way other than in a belt sheath.
3. I've never owned a black oxide Leatherman, so I can't answer this one. Stainless steel works just fine for me.
4. Just to be clear: the Wave's only "interchangeable" feature is its bit driver. The Wave doesn't have the interchangeable saw and file that afishhunter mentioned above; that feature is unique to the Wave's big brother, the Surge.
The bit exchanger has a retaining spring inside it that presses against the side of the bit to minimize wobbling (for instance, the bit doesn't rattle or fall out if you shake the Wave), but there is enough wiggle room to move the bit back and forth by hand against the spring.
The main drawback of the bit driver is its bulk and lack of reach, which can make working in tight spaces difficult. Even with the bit extender (which I recommend getting), the whole assembly is still wider and more bulky than a regular screwdriver. The bit extender, with its greater leverage, does tend to rattle a little bit in use. Also, the Wave only has room for one (double-ended) bit at a time, so the ability to accept multiple bits isn't really an advantage unless you have the bit kit and carry it with you.
5. You can find Leatherman Charge blades in 154CM and S30V on Ebay. All of the Leatherman Charge blades and tools will fit the Wave. Gotta love interchangeable parts!
6. Not exactly aftermarket, but I recommend getting the full bit kit and bit extender. The Wave's bit driver only fits the flattened Leatherman bits, but the Leatherman bits are backwards-compatible with standard 1/4" hex sockets. And the bit extender does fit standard 1/4" hex bits.
I hope my answers helped.