This pouch, currently discounted (depending on color/camo scheme) is almost identical to the old MOLLE double AR-mag pouch that translated almost perfectly into a single M-14/clone pouch:
http://www.tacticaltailor.com/556doublemagpouch.aspx
I have found these pouches do very well in the single 7.62 mag role, as long as the bungee cord is not drawn tight at all. In fact, if one adds a 7.62 ESSTAC KYWI insert, and some appropriate velcro inside the pouch as a retainer for the insert, they are almost perfect. Zero problems with extraction, and zero problems with re-insertion. YMMV
It's not easy to find a
single mag, flapped 7.62 mag pouch, but
many double AR mag pouches will do. If you want to re-insert the used mag, then definitely use a 7.62 KYWI, or perhaps some other iteration of same.
Of late, there are some other, U-shaped, kydex devices, which grip the mag at its' sides, as opposed to the KYWI's front-and-back grip. These are similar to the items offered by, notably, HSGI, but since they are internal to the pouch, do not require any sort of shock cord.
I might make some and see how they work. One can do that with Kydex, after all.