When you compare that to some of the cheap rip-offs around and compare the quality and longevity of the knife itself: $40 is a good deal, for an item which will last for years and in many cases get used every day.
I doubt that SAKs (Swiss Army Knife) have lost anything to Leatherman actually. Leatherman are generally bulky and heavy and considerably more complicated to use than a SAK. Sure you get a pair of pliers with a Leatherman, but other than that the rest of the blades are basically the same as you can get with a SAK, so your paying a lot more than a SAK for basically the same stuff in a bigger heavier shell.]]>