hey rainwalker your the perfect person to ask this question to, if you don't mind. <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />
I plan on carrying the WD while backpacking, so the butt needs to be below waist level, so I can draw it with a waist belt on, and as to not impede dawning a pack. So i would guess that would bring one to a "dangler" but I feel it may "dangle" to darn much and be annoying, leg retention is an option, but not one i really care for... maybe trad. fold w/ a higher belt loop?
what do you think?
I apologgize for not reading your question to Rainwalker very clearly the first time, so my input should be changed a little.
Still, I have significant experience to provide decent advice.
For backpacking with a pack with a "serious" hipbelt, I definitely suggest the molle loks from Blade Tech. I would then attach the sheath to the hipbelt or a shoulder strap depending on the size of the knife and its intended/expected use.
If/when you remove the pack and still want the knife on your waistline, the sheath is easy to remove from the pack and put on your belt.
NOTE: The same method can be accomplished with a Tek-Lok or a Tek-Lok in conjunction with a Rainwalker SKDS if the Tek-Lok will accommodate the webbing/belt.
One more thing: If you are concerned with retention with a kydex sheath, paracord and cordlock(s) can be rigged for most knives to prevent knife loss. I loop a length of cord through the sheath rivet(s), knot it, and run it through a cordlock or two (or use a knot in place of one of the cordlocks. Then the paracord can be tightened around the handle (of most knives) to prevent the knife from comeing out. I also use this method with various cordura and leather sheaths for retention in addition to a snap or as a replacement for velcro.