I don't find it too bulky, but, then, I often have it slung on the front, just off to the side because I'm usually walking in the city and I like to be able to keep an eye on it.

I did add a camera strap to the bag and I will also use it slung over my shoulder. When I carry it through crowded airports I often am double clipped--wasit band and shoulder strap. Not because I don't trust people, but because I'm a bit forgetful. Oops.

I was concerned that the clip would dig in, but not really.