I've found myself tangled in fishing lines on numerous occasions. Not quite an emergency, but the knife helped.
Welcome to ScubaBoard, the world's largest scuba diving community. Registration is not required to read the forums, but we encourage you to join. Joining has its benefits and enables you to participate in the discussions.
Benefits of registering include
I don't believe I'd mind the idea of fouling myself as much as the idea of accidentally nicking an artery in the groin area.
A couple of fishing line entanglements that were easily handled.
My favorite one was when my instructor was diving along and saw a hook and line drop right next to his wife's arm. She didn't see it but he did and grabbed it before she got snagged. He wrapped it around his hand a few times and took off. After swimming a nice sized box he took out his knife and cut the line. Later, the fisherman in the next boat was talking about the big one he had on his line.
I've had several episodes with fishing line over the years. The stores aren't all that exciting - but that's mostly because I was prepared. I used to carry a knife but with the advent of Spiderwire I switched to shears.