As you may know, I'm of the Alton Brown "No unitaskers in the kitchen" camp. However, I just saw this infomercial for Debbie Meyer's Kake Kut'rs ($16.90 for a set of two) and am actually pretty intrigued. The tool, which easily slices cake into various sizes — small, medium, large, tiny, you get to choose! — also doubles as a lifter. You squeeze on the piece you've cut and lift it over to the plate. The video makes it look really simple, and it would definitely be safer than a knife. Since it's a slicer and a lifter, then maybe Alton would approve of its multiuse functionality? Probably not, but it's still pretty cool.
To see a video of the Kake Kut'rs in action,