I carry full-sized real tools. If I have to do work on the road, I don't want to do a bad job because my tools are bad. Of course, my bike and stuff weighed in at 96 pounds on my last tour. But I'm not gonna mess around when it comes to pedal wrenches or my stem. I've tried to work on both of those with multitools, and I can do a much better job with "real" tools.

Another consideration is how long the tour is. If it's a week-long tour or longer, full sized tools are probably more important than, say, on a weekend jaunt. I also find that when I have full-sized tools, I enjoy working on my bike more, and I'm more likely to check over the bike and catch things like a loose rack screw or loose pedal clip.

On the other hand, on my commute, which was about a half hour of riding over the course of the day, I carried a multitool and left it at that.