Hi, first post.
I've been interested in locksport and picking locks for about 3 years now, and am currently pursuing a career in locksmithing as well.
That "jack knife" as they are sometimes referred to is actually quite nice, and has been my go to tool for a long time. I find myself able to open -most- common locks and some uncommon ones with it. I think that my success rate with this tool has got to be around 90%. It's very portable, and has a comfortable feel, though the locking nut on it that holds the picks in places will often loosen during use. I definitely don't think it's just a toy or gizmo.
That being said however, I got it as part of a package deal with a "real" set of southord picks and other tools. I probably would not have bought it otherwise, as I can tell right now that it is NOT a substitute for a real set of quality picks. I have found that I can't open some locks with it because it doesn't have a short-hook. it's also fairly expensive.
For a pocket tool that is more versatile and about half the price, I recommend this:
http://www.lockpicks.com/jackknifepickset-1.aspxI have never used it so i can't vouch for it's quality.
Also, if you're really interested in locksport or locksmithing, I recommend you bypass this tool completely and get yourself a full set of quality tools, such as SouthOrd's 20 piece pick set.
