I keep my lenses in individual Lowepro cases when not out shooting, and in a camera bag insert when out shooting somewhere (eg, not in the Lowepro cases). I thought I'd try the Lowepro S&F belt so I bought one. Put 2 lenses in their corresponding Lowepro cases on it and as OverRead indicated, spent the shoot pulling up my belt, etc. I also found the belt-size adjustment couldn't be made to stay put in one setting. It kept getting more and more loose. After that one night, I put the S&F belt aside.
But, given that I have Lowepro cases for each lens, and their attaching to my 'regular' pants belt is no diffferent than attaching them to the S&F belt, I gave that a try. It worked wonderfully. I only put 2 lenses on my regular belt, and a filter holder, and it worked OK. I only had to pull my pants up a couple of times that night. For a walk-around shoot in downtown Chicago last fall, I used only a single case sized to fit the lens on my camera and the one I was carrying, and a filter case. Since my camera is gripped and batteries freshly charged, there was no need for an extra battery.
Should I ever want to go beyond carrying 2 lenses on my belt, I think I'll give an old pair of suspenders I have laying around a try...