I'd actually go with both a leatherman type tool but one of the smaller more basic ones and a good single blade folder.
Weight is an important factor when your out and have to carry everything and for me most of the big leatherman type tools are just far too heavy. So I now always have a Leatherman Style CS
(50grams) in my pocket but the Micra and Mutt would be suitable lightweight alternatives.
I don't carry a larger knife, even though I have numerous ones I could carry, but if I did want to lug around a lump of steel and was buying new I'd go for something like the CKRT Batum
(~8cm) or the CKRT Batum Compact
(~6cm). both have big fat blades that don't look like something you'd stab anyone with but both would be useful out in the woods. Again they aren't heavy the larger one around 200grams and the smaller not much more the 100grams.
Its the old story of having something is better than having nothing, a machete would be my tool of choice but you can't carry one around legally all the time but you aren't going to notice the 100 grams of a small folding blade in your pocket so are likely to have it with you when you need it.