Well, after some more research and reading the comments here, I'm going to order one of these setups very shortly (in fact, when I leave the forum in a few moments). I'm also ordering my wife her own K10D and another lens for myself, but that's another story.
Anyway, I'm still convinced this setup is the most confortable option for longer walks, which is a major consideration since there are lots of walking paths and pedestrian-only shopping streets in Europe. So, if I want to cover some ground and get the images, to heck with appearance.
To those asking how much I need to carry, the answer is a suprising amount. First of all, do understand I have different setups depending on the situation. When doing commercial work on location for clients, my entire arsenal of equipment often joins me. However, that situation has been handled, so isn't my focus here. What I'm seeking here is a better method of carrying sufficient equipment for a day of hunting photographs, either for myself, stock, or location scouting.
Since these often day long jaunts are unpredictable, it is difficult to really know what will be needed. As such, I carry everything that might be, reducing that as much as possible (a single body, one or two lenses, flash, filters, spare batteries, manuals, model release forms, etc). And then there are personal items, such as a cellphone (clients call anytime), organizer (got to know my schedule), some tea (of course), a snack, chewing gum, and so on. All these things add up in both weight and volume quickly. I've carefully measured and made allowances for each item in the setup above.
For those recommending waist bags (fanny packs) without the harness, I've tried that in the past without success. I just can't keep those things from endless sliding downwards, and constantly yanking them back up gets really tiring towards the end of a long day. It's also not so easy to readjust them with a camera in one hand.
Well, I think that about covers just about everything mentioned. I'll let you know how all this works out. Of course, in the meantime, between now and the time the order arrives, you still have the opportunity to make me nervous by telling me how horrible it looks or whatever.
stewart