Ok, it arrived today.
Firstly, the damned thing has just cut me, a bit of the velcro edge has slid under the nail of my thumb.
Build quality appears to be very good, time will tell how it holds up. It certainly looks more expensive than a £4.95 item.
The sheath is more suited to 4in tools. I have tried my Charge Ti and Spirit in it. The securing flap has full length velcro and is very secure.
I don't think I will be using this on my belt. The combination of the thickness of the material and the belt loop/molle attachments, makes it stick out a little too much.