you're right about TSA, but I have a better one...
When I was flying home from Iraq for the last time in January 2005, my wife was flying down to meet me. She was bringing along her Leatherman tool, which I told her to carry because you never know when you will need something.
She didn't put it in her checked luggage, she put it in her purse and GOT AWAY with it.
Back before 9/11 ever happened, I was flying from Alaska to Georgia. At the Seattle airport my purse was scanned and the man sitting at the security desk asked me a question. I couldn't understand his question the first two times he asked (he had a thick accent). Finally I made out what he was asking me. He asked, "do you have a Leathermen's in your purse?" I replied, "why yes, doesn't everyone?" He laughed and let me pass through.