Knights cover a wide circumferential range of attack on the board, which makes it quite an intimidating piece. On the other hand, bishops hold very strong lines of attack/defense on the board. Both have obvious weaknesses when used alone. That's why they are most powerful in combinations. These pieces compliment one another.
Some people fear bishops more than knights because they can skewer, pin & fork other pieces, at both short & long ranges. Bishops can also clear a path for knights to move in and inflict heavy material damage against the opponents forces, and vice-versa. Knights don't have the range of a bishop; and just like any horse, it can be clipped in close quarter combat when faced off against a crafty opponent.
~The Doctor
sstteevveenn wrote:
Could it not equally well be a root 5 slider? Unlike say a root 2 leaper, which would have to leap.
No it couldn't because out of the "root 5" the knight is passing over foreign squares (possibly occcupied) for root 5/4. If it were a slider like all the other pieces it would have to come into contact with other pieces.
I agree with mxdplay4, the knight is a leaper.