I've been using the bagpod for about 2 months now. It's a little pricey, but in my opinion VERY much worth the money for your off-the-shoulder shooting needs. I would suggest that you keep it loose and THEN adjust the strap when you put it on though, otherwise you're stuck SQUEEZING through the small loop in the strap that you have to make so that it fits right under your arm. Once it's on though, it works great. If you shoot sports (ESPECIALLY FOOTBALL!), this thing could save major wear and tear on your back and shoulders. I've also taken it off and used it as a steadibag to get some good low-angle stuff.
The pockets aren't very big, so don't get any kind of ideas about ditching your run bag, but the large pocket has enough room for me to stash an extra DVC-Pro tape (which fits like a glove, by the way) and a small Hytron 50 battery. The front mesh pocket holds my IFB, spare 9-volts and AAs, a backup earpiece and a few miscellaneous adapters. Or I can ditch the spare tape and my lav mic fits in very easily.
The bag also has a loop on the bottom where you can either carry an XLR cable or (as I have done a lot lately), it works really well in adding stability to off-the-shoulder live shots. One tip though - if you use this bottom loop to hold your XLR cable, make sure you clip your cell phone to your LEFT side instead of your right. Otherwise your cell will snag on the cable the whole time, and that'll REALLY get on your nerves.
All in all, good product. I'm glad I ordered one and if you have the money to get a new toy, I'd recommend it.
Happy shooting...