Yeah I suppose you could use the point when collapsed. It would do Str/2+1P. As for reach, your typical knife, sap, or dagger is not usually a foot and a half long. I figured almost ~half meter would be a reach of one. When collapsed it is about the size of an extended baton.
The blades in arsenal, the fineblade, kris, katar, etc are all in that length range and they're all reach 0, so I surmised this would be as well.However, without concrete measurements on weapons it is very subjective.
Urban Flyboy Wingsuit
An extreme sports extension to the Urban Explorer line,
the Urban Flyboy Wingsuit brings things to a whole new level: Airborne!
The suit incorporates membrane like wing panels extending
from the wrist to the ankle and ankle to ankle crafted
from a composite compound consisting of both lightweight
polymer nylon and synthesized spider silk enabling limited gliding.
A control unit installed in the chest deploys and retracts the wings.
Deploying the wings takes 1 combat round.
Retracting it automatically takes 5 minutes.
Retraction can be sped up by a (5, 30sec) Parachute + Logic Test
The gliding wings can be used to extend a horizontal jump.
Successes on a Body+Parachuting test add dice
to a running horizontal jumping test.
The gliding wings can also be used to reduce a fall.
Make a Body/2+Parachute test.
Each success reduces the fall by 5m translating
it into 5m of forward movement.
Ballistic 5 / Impact 6, Avail 14 Cost 2500
EDIT: Links for reference