Victorinox and Wenger both make fine quality knives, but each has its advantages over the other:
Vic knives are generally longer, which is good if you have really large hands, but bad for easy pocket-carry. The Wengers are shorter.
The Vic awl has a reamer which is useful, but the Wenger makes a more uniform and less ragged hole when used as a punch.
The Vic toothpick and tweezers are better than Wengers but Wenger puts them in a better location (on the liner side of the scales where they're less likely to slip out).
The can openers are different. Some prefer the Vic, some prefer the Wenger but they both will open a can very easily. I prefer the Wenger can opener because I can use the sharp beak for other purposes.
The Vic scissors take a larger bite and are'nt serrated so they cut smoother, but the Vic scissor spring sucks. Wenger has the better spring for the scissors and they are self-sharpening, but they do leave a toothy serrated edge on the cut material.
The Wenger cap-lifter/screwdriver locks when you push firmly down on it. This has probably saved alot of pinched fingers. Vic should adopt this locking mechanism.
Some of the Wenger pocket-knives have a locking main blade while only the large Vics do.
Some of the Wenger pocket-knives have serrated blades if you like those but not enough of the Wengers have a small pen-blade (I really like the small pen-blade but most of the Wengers replace it with a nail-file/nail cleaner).
The Vics generally have a thicker main blade on their pocketknives. This is good and bad depending on what you're cutting.
I have never had any problem getting a very sharp edge on either the Vics or the Wengers and I seriously doubt that there is any real difference between the steel and heat-treatment of the two.
Both Wenger and Victorinox have great customer service and lifetime warranties on all of their knives.
All in all, you can't go wrong with either one.
Good luck,
Allen.