I don't carry it on my belt any more, but I used to carry it all the time, and my Leatherman (and later the Victorinox multi-tool) saved my hide more than once. I got a Leatherman for Christmas back in the '80s when they first came out. I broke the tip off the pliers doing something I shouldn't have, sent it back, and they replaced the pliers and all the other blades.
The first time I rode in a hot air balloon, at one point a few thousand feet off the ground, the pilot was trying to get a check valve on a propane hose unstuck. He was unsuccessfully using his keyring to try to loosen things up...I handed him my Leatherman and he fixed it immediately. By the next weekend, the pilot was carrying his own on his belt, and he swore he'd never fly without one again. (I worked on his crew, and he kept his word.)
Last week I was going through security at the Burbank airport, and I forgot that I still had my Victorinox multi-tool in my small carry-on bag from my last road trip. I figured for sure I'd lose it, since I didn't have time to take it back to my car, but the TSA gal was very nice and she showed me where the self-serve mail kiosk was, right around the corner from the security station.
I should have it back any day now.