mikep, take a look at OnScene/Tactical. Eric makes some great sheathes and he also makes some custom carry rigs for multitools and lights. See: http://www.mnsi.net/~nbtnoel/products.htm
Eric is a really good guy.
Thanks Hank- if i was carrying this stuff every day I'd probably get one of those. I opted for a real cheap carrier: I had this 'universal cellphone holder' from Brookstone, a neoprene pouch with a belt clip. I made a cardboard/ductape 'frame' that fit inside to hold the multi-tool and scorpion upright. I'm a consulting engineer, and only need to wear the tools when i do a site visit, so the belt clip is nice.