I really like my Leatherman Free P4. It is the only expensive modern multitool I have owned so nothing to compare it against. All tools lock back, has all the small tools I find myself needing and more, though sometimes I have wished I could get more torque on the pliers, but I imagine that would be the same with any reasonably sized multitool.
A bit holder is very important to me so I use a Wera female square drive to female hex drive adapter, which I keep in a box of 6mm bits I got on amazon for like $10. The female square drive slips over the phillips and flathead tools and stays pit when working. Gives me bits for everything rather than the limited and expensive 4mm bits used in dedicated leatherman bit holders.