The compartmentalized bandolero of flat braided 550 cord, worn diagonally across the chest (shoulder to waist or hip), with a series of soft flat bags attached.

Altoids tin bag
Fire bag
Water bag
Shelter bag
First-aid kit
Compass bag
Fishing bag
Signal bag
Food bag
Extra battery bag
Sewing kit/snare materials bag
Comfort bag

with some loops for flashlights, etc,

and a good fixed-blade knife in sheath at lowest point.

Hands are free, it won't fall off easily, all weight is close to the body for stability, no major lumps (although you might be staggering under the weight....)

And then there's the Survival Hat Band! <img src="/images/graemlins/laugh.gif" alt="" />

Sue