I like kydex a lot for coated blades. It's compact, light, and retains well. On the other hand, kydex can scratch blades, is less comfortable to carry than leather, and is noisier.
It can also crack in really cold weather.
Yeah... I live in Georgia, so.... <img src="/ubbthreads/images/graemlins/wink.gif" alt="" />
I'd be more worried about the kydex getting so soft that it re-forms itself around the blade <img src="/ubbthreads/images/graemlins/banghead.gif" alt="" />