Enter stage left Dan Hirayama of Semper Paratus Tactical (Link).
I prefer cordura nylon sheaths with kydex liners. Cordura has held up the best for me throughout my experiences in woods, mountains, desert, jungle, snow etc.
Dan’s sheaths are outstanding. They are adjustable for height, have one or two leg straps that can be used or removed based upon user preference, and have a velcro utility pouch on the outside the top of which is wrapped with a strap of black elastic as a secondary retention measure.
The pictures I added show the front and back of the sheath as well as the depth and width of the velcro utility pouch. Note on the back of the sheath where the leg straps interface that there is velcro present to ensure the straps do not work their way around your leg when moving. Additionally, the leg straps have elastic on them so they flex as your leg muscle flexes. This is the kind of attention to detail that make Dan’s sheaths the best in the business IMHO.
Now that I have the sheath ready the project will begin early — most likely Friday 11 November 2011.