i use the layed-up plywood method for machete sheaths.
the trick is to get the seperating lamination close enough
to the blade thickness so that you aren't deafened by the
rattling of the blade.
for billhook type blades you can leave the side opposite
the cutting edge open and use straps to retain the blade
(just use screws to hold the female snap to the wood).
if you just have thinner leather.. laminate it with barge
cement. build a welt just as you'd do for thicker leather
and off you go. you also can cut or punch patterns in
the top layer...use contrasting dyes...?
last but not least...actually my favorite. use the thin vinyl covers
from school notebook binders. cut to match the profile of the
blade. if you are doing a pouch sheath, insert the blade into
the liner...and wet mold the thin leather around the two.
let it dry and sew it together.
with this solution i do tend to use rivets at the tip and
top of the insert. even with good thread the vinyl can
move enough to shear the stitching.
good luck