Yes to this. Since the FC B&B books, I have carried the small one with me at all times!
Nice David! You made that leather cover, right?
Yeah, I actually made a slightly better one last night with an offcut I had from something else I was making. This leather wears really well for items that need to be durable.
When I was making strops a while back it was one of the leathers I used for that. I used the nice bits from the middle of the hide for strops, because they have to be as flawless as possible, but I kept as many of the offcuts as I could (I'm too cheap to throw that stuff away), and they are perfect for these little items, pocket knife sheaths, bicycle hand grips... whatever.