Some 10y ago I noticed that Leatherman quality was dropped. My PST II went in for a repair, and although the new tools they replaced (even when there was no fault in existing ones) were better in ergonomics (like the angle on the screwdriver) the steel got rusted very easily, was softer or harder than needed etc.
And yes, I know that getting rusted doesn't tell the quality of the stainless steel, but I just got a feeling that instead of choosing the right steel for use they had selected the materials based on machining cost or whatever. Knife didn't keep the edge, screwdriver tip broke off etc. But as I said the ergonomics were/are better, very plain to see in PST II since it doesn't have the locking function.