I'm carrying a Swiss Army kinfe around on my keychain right now. Its got a flashlight, nail file, scissors and small blade, all identical to the one in the picture. I've never gotten it wet, and obviously the USB knife knife is designed for urban cowboys like myself.
My only prooblem is that the drive appears to only open half way, not all the way like every other gadget. In this orientation you would have a hard time if other components on the back of say, your laptop, are in line with the drive.
Plus it looks especially thick and bulky, making it that much more difficult to handle the blade correctly. Granted, all I ever use the puny blade for is opening boxes, but its the principle.
Meh, let me see it IRL before I bite. Might make a good Christmas present though!