I've been using that setup for just over a year. It is my first CCW setup so I can't compare it to other options, but I like it and have no strong desire to try anything else.
About once a quarter I retighten the screws,or they will eventually back out. That also adjusts the retention. I usually wear it around the 4 o'clock position.
I do a bit of hiking with a backpack, and I do get some friction between the handgun and the waistbelt of the backpack. I've got a few religious shirts and fleece as a result (holey). The only situation where it doesn't work for me is mountain biking, where there's no belt to support it. I've acquired a Ruger EC9S and will use either a pocket holster or something like a Sneaky Pete for mountain biking.