If you look at any pancake holster from a quality dealer you might find yourself asking, "Why don't they just put the belt slots lower to raise the pistol higher, for better concealment?" The answer is that the higher the ride, the more it will want to flop out, especially during any vigorous activity. Trust that they know what they're doing.
One advantage of a good quality pancake holster over kydex is that the leather back sort of becomes an expansion of the belt- so a good gun belt with a leather holster will 'stick' to your side better and distribute the weight better, while kydex tends to slip. I find that my Don Hume pancake holster makes the heavy S&W 1076 feel lighter (for lack of a better term) than guns that weigh much less in a kydex holster. I don't need to honk down on the belt to keep it in place because it spreads the weight over a larger area.
I recently picked up a
Tucker HF-1 for my Sig P320 in .357, as well a double mag holster. I then returned for a single mag holster as well. I LOVE this holster! While I was waiting for the holster, about six weeks, I bought a
Bladetech Eclipse which is really nice, but not nearly as nice as the Tucker.
Do go cheap on your leather- it makes a difference.