Using the images, along with measurements using calipers, I created a very detailed 3D model of tool. I tried to spare no detail on this one.

Rev 3: Tried adding some top catches, to fit into cutouts near pliers. (didn't work well) Realized I can open the middle of the holster for a cooler look.. The pliers, wire cutters, and electrical crimper on the Free P4 are the only carryover from Leatherman’s previous line of products. They contain both needlenose tips and a regular plier below them. The best answer is maybe. We love the advances Leatherman made with the Free series but overall the actual tools remain the same.

Details

The FREE P4 is a stainless steel multi-tool which looks the business even when closed, with its perforated-metal exterior design. On to the basics. The Free P4 is a 4.25 inch long, 8.6 oz multi tool. This puts it firmly in the full size to heavy duty class of multi tools and gives it substantial capabilities. Leatherman Free P4 Tools In most respects the Free P4 and P2 are nearly identical. They’re both 4.25 inches long and are just one ounce apart in weight. The P4 has 21 tools while the P2 only has 19. You give up the saw and the second knife blade but otherwise have an identical tool loadout. They’re also priced very close to one another. Every feature on this tool can be opened and operated with one hand. This enables the user to keep the other hand free for situations that require multi-tasking or a free hand. The first thing you’ll notice with the Free P4 is that Leatherman kept the classic butterfly fold design. Even more fitting, the use of a magnetic clasp system actually allows you to swing the P4 open just like you would a butterfly knife.

Someone would send in their tool for a blade replacement or minor repair. And they almost always asked us to fix it, but not mess it up — because they had the tool broken in just the way they like it.” So much thought and purpose went into this tool,” Adam Lazenby, Leatherman senior product designer, said on a conference call. “It is one of the most consumer-influenced products we’ve ever made.” Different Colors– As of right now the Free P4 is only available in stainless steel. It’s likely Leatherman will offer more color options as they work out any kinks in the Free series manufacturing process. It is in terms of ergonomics that the Free P4 really stands out. Rumor has it that Leatherman, with its generous warranty, receives thousands of returned and well-loved multi-tools each year. They receive each of these with instructions and requests. Apparently, according to the same rumors, a remarkably common request was that Leatherman not "fix" loose hinges on older, well-used tools. People wanted their broken screwdriver repaired, or the blade reconditioned but didn't want the hinges tightened. Users enjoyed the free hinging pivots of "broken-in" tools.Edit: I misread your question: Yes it would fit the flat bits. There isn’t room for a regular hex holder.