For some reason, the 420HC Leatherman uses seems to be really prone to rust. Both my Super Tool 300 and Leatherman 6 (my only "modern" Leathermans I regularly use) have developed rust spots at one point, which were cleaned off. I blame the bead blasted finish, as the old tools, which were highly polished have never rusted on me. I've had the urge to purchase a black oxide Leatherman, but not just because it looks cool.
Do the black oxide versions of the tools resist rust any better than those without that coating?