It's not a waist belt, but I have a Nathan running pack that I love except that it does not have a little key-clippie thing. It wears like a vest and does not bounce around at all.

http://www.nathansports.com/our_prod...intensity.html

The pack carries a lot of water and I only use it if I'm going to be out running for more than about 1.5 hours. I'll bet that Nathan Pulse is nice for shorter runs. I hate carrying things in my hands when I run.