I’ll jump on the bandwagon. The Leatherman or Gerber is an awesome idea. My groomsmen were all sports nuts, and I looked into getting them autographed sports jerseys. What a racket that is! Besides being enormously overpriced; my research showed that 1) and estimated 50% of all autographed sports memorabilia is forged, 2) After paying an exorbitant sum for it, it’s only value is to the you as the owner because everyone else in the industry knows it’s probably forged.
Back in the 60’s, when my parents owned a Saddle Shop/Western store, a local couple that had met, competed, courted, and proposed at saddle club events outfitted their wedding party with matching leather coats in various colors and matching stetson hats. The wedding party was quite pleased, as they were all involved in horse showing, and were able to spend money on new show outfits, which they used for a year of two, instead of a tux or bridesmaid gown that they would likely wear only a single time.
And the groom purchased matching headstalls for his groomsmen, with personalized embossings.
Everybody seemed quite happy with the arrangement.
The Best Man gets a gift? Oh sweet! I’m going to be my friend’s Best Man for his wedding. I think I’ll start leaving a Games Workshop catalog lying around in his apartment for the next couple of months 
Add me the list of folks who gave Leathermen to my wedding party. I gave my best man a biggish one with the vice grips (because I knew he had another smaller one), and I gave my groomsmen smaller ones. On each of them I had engraved my initials, the recipient’s initials and my wedding date.
Damn, I wish my boyfriend had been your best man. He has four never been used flasks from being in other weddings, which only causes us to compare which of his friends liked him more by rating the flasks. Leatherman all the way!
As a point of interest, I’d like to add that some cultures consider the giving of knives as gifts taboo, or bad luck. Often, the recipient must give the giver a small coin in payment to counter the bad luck. Of course, if the OP were a member of such a culture, he’d probably be aware of this. I do come from such a culture, but I still think the Leatherman is a cool gift.