I bought this over a year ago now to use in work, to keep keys, and a box cutter close to hand, (and to stop myself putting them down and loosing them). I personally run the gold clip through the second belt loop and clip onto the first. This stops the entire unit hanging to low and helps support the weight. (The gold clip is very solid and heavy.)
The only problem I have had with this product is the cord lanyard section (which can be seen at the very bottom of the picture) to which I had attached my cutter eventually frayed and is now unusable. This hasn't stopped me from using the product as I was able to affix the cutter to the built in split ring.
Although the coil itself isn't that rigid, and allows relatively light items to stretch it, this isn't too much of a problem due to the quick release clip that holds the whole lot close to your waist while not in use.
If your worried about the coil breaking, I wouldn't. I've caught my keys on a number of things, and instead of the coil breaking, it's jolted me back a few steps.
Before purchasing I wasn't too sure if it was worth spending £13ish on at the time, but im pleased to say that if it did break or I lost it, I would definitely buy another!
Highly recommended!