I carry a tiny 8-tool one (Ascent Barebones, from Performance, but its out of stock) and add in a set of higher quality tire levers to my bag. You are never going to use 75% of the stuff on the Alien. The 8 tool just has 6 allen wrenches and a phillips and flat screwdriver.
That takes care of any derailleur, headset, or fit issues (seatpost, stem). It won't give you the torque of a wrench, but a 6mm allen wrench will get you home if a pedal comes loose. The only thing it really lacks is a chain tool, but I've never broken a chain yet, and think I can accept limping home on the small chance I do.
Having a set of quality tire levers is more important for everyday riding than having 20 extra tools with the integrated levers those tools have, if you ask me.