Even being a devout fan of the knives, I still sometimes take on tasks that call for a little extra power. I carry a Mechanic everywhere, it's a Tinker with pliers, but after 10 years of loving Mac and the red SAK's, I bought a used Swiss Tool just to check it out a few weeks ago. I have to say aside from carrying it on your belt that thing is too monstrous to keep on your person. And we all know Mac was fashionable enough not to do that. Supposedly the Spirit is a little milder, but still it is just not as pocketable as a knife.
A few things to rememer about the movie are 1) as Rocky said, Lee David Zlotoff is not the final word on props (AT ALL haha) 2) It's a bad economy and Victorinox, if involved, might prefer to try to place their $60 plier tools rather than $20 pocket knives, and 3) Leatherman is not even a threat. Has anyone actually checked one out? Except for the huge clunky ones, you have to open the pliers to open the blade, then close the pliers. I don't think so- MacGyver was most often using his knife when time was of the essence- he would never go for that sort of nonsense. In fact, Victorinox on their multi-tools have it arranged so you can still open the blades with the pliers closed, so if my some odd chance a tool was used, it would still be Victorinox.
But I agree with everyone who says the red handles were iconic. And the knife itself worked for a reason. It went with what MacGyver was, and how he worked. It was light, compact, had a few tools that offered a wide diversity of possibilities, but it wasn't weighed down, or overly complex.
A good example is watching the Heist. MacGyver uses an Executive, a pretty small knife, quite a few times. It only has 5 blades, and if you watch very closely in the electrical panel room scene, RDA makes a little blooper. He starts to open the scissors, then in the cut scene immediately following, he is using a screwdriver. Even something so simple was pushing the limit of overcomplexity for him. The whole point wasn't to take everything he could possibly ever need and fit it into one tool.
That all said, if they want to add a touch of the present to the knife, without changing the format or pattern, there are a few innovations that I would find acceptable to use:




"It's a real ugly thing to see in a dog. It's even worse in a human being." --The Golden Triangle
"I'd like a 16-inch pizza, run it through the garden, hold the chovies." -- The Eraser