Multi Tool pliers are always, by necessity, a compromised design. They are better than finger pliers but they are not what you reach for if real work is required.
But there is a terrific option for those who wish to upgrade their kit... Try out a set of Knipex Mini Cobra Pliers (model # 87 01 125).
These pliers are similar to traditional Channel Lock pliers, but 100 times better... made in Germany, built like a tank, and a far superior design. The locking adjustment means they never slip to a different setting and the design of the jaws works well on most anything, including nuts and bolts (it will chew shit up but the plier jaws will not be damaged). Plus, even though the pliers are very small the jaws open up to an astonishing 2" wide!
And best of all, at just 5" long, the Mini Cobra's are small enough and light enough for anyone to carry but still do jobs that only full size pliers can usually handle.
As with all things in life, quality costs, so these pliers aren't cheap ($30 on Amazon is about the best you will find), but you are getting a premium made tool that will last you a lifetime.
You can just drop them in your pocket or gear bag but if you prefer a sheath I have found an easy solution. Go to Walmart and spend $10 on the shitty old Mini MagLight w/ Sheath combo pack they sell... Open the package, throw away the Mini-Mag, and use the belt sheath for your Cobra Pliers.
NOTE: You will have to move the jaws down to the third adjustment notch (see pic) so they fold to their narrowest, but then they will slip right into the tube sheath. You can use the provided belt loop or cut it off and melt or sew the ends (this makes a good pocket sheath).
There are larger versions as well, and I keep a 7" pair in my Gear Bag to back up the Mini's and for those jobs where you need a set of pliers.
Give them a try and I guarantee you will wonder how you ever survived without them.