Have two, love them. No qualms at all with the new hook, minor annoyances with the old hook.
What do I have? A RS-1 and a RS-3? (The old models don't appear on the website anymore.) The one with the cellphone pocket is the one I always have on me. My Holux GPS fits perfectly in there.
IMHO, though, they are overpriced. A few of my buddies have made the equivalent for sub $20 with nylon webbing, latches, and clamps from the outdoor supply store combined with the shoulder strap pads from old laptop cases.
I use my Manfrotto tripod mount's D-ring to attach to. There is much controversy on this subject, so don't take my word as gospel, but as I figure it the maximum drop I could do is from overhead less-than arm's reach to waist level = 4 feet. 6 pounds (which is, IMHO, generous as that is a D3 + a 70-200VR) at 4 foot free fall = ~75 pounds shock load IIDMMC (if I did my math correctly) which I trust my D-ring to.
Other people will scream bloody-murder at the idea of using the tripod quick-release plate ring.