That belt is a wonderfull thing. It doubles up as an emergency rapelling/evac belt. I've done some near emegency rapells with it when I had to aid a fellow climber, inexperienced and starting to panic, and didn't have time to mess with a harness. Good attachment point to your body if you ever have to do a real quick ice rescue of someone and can't wait for help to arrive. Everyone should own one.
I've had many uses for it as well.
I also like the fact that it's really easy to cinch down or loosen, depeding on what you had for lunch.
The leather belts with a hole every inch or half inch always seemed too tight or not tight enough.