It is a very well made piece of kit that does the job well, I have had on for 18 months now and find it useful and easy to carry a 1D series camera with 70-200 2.8 lens. It snaps out of the clip and goes back in so easily and I do not notice the weight after 7 hours shooting. I even used it with the 300 f/2.8 but that was probably not sensible.
Like all things it is not the panacea for all situations, it does hang from your side and it takes some getting used to the extra width you body has just taken on; having said that I have never had a problem bumping into things with it, I tend to have a hand over the kit when I am moving about which helps, a habit I use with the Black Rapid sling. I have always carried my camera from the sling position, even before the modern term for it, it seems my shoulders encourage things to slide off.
The company had a problem in the early days with one guy in the US having had the misfortune for the buckle to part. It was well documented on POTN at the time and the company paid for an expensive repair to his 1D series camera and re-designed the buckle, they emailed everyone who had bought one and sent everyone a new belt with re-designed buckle - really good customer service.
To sum up if you are happy carrying your camera on your hip then there really is no better solution IMO, the clip is beautifully engineered and just works.