Kingfisher, I had the same thought. Once I purchased the Badlands product I modified it to suit my own needs/desires. That included taking off the back straps. I've sewn in a couple of the male side of the buckles onto my pack straps so now when I put on the pack the Badlands straps directly onto the pack. There is no backstraps to the Bino pouch now to get in the way of my wearing a back pack with the pouch. Of course I still have the option of reattaching the male buckle into the female side and I'm back in business with the original set-up.
I've found that I was also able to cut away the entire green foam rubber pad on the back of the bino pouch to make the thing skinnier and conform to the shape of my chest better than with that thick pad pushing the binos out from my body.
The magnetic closure system is a fantastic idea, although I'm concerned that putting a digital camera next to that magnetic field could possibly compromise the stored images. Anyone have any thoughts on that possibility?