Yup, I have to agree, not the prettiest.... but aesthetics of the camera itself has never really been a concern of mine. Hence the "rubber" stopper thumb rest. Btw... thumbs up never really felt right to me and I didn't like how it attached to my hot shoe. I'm sure it works for well for many others which is great. I also have a small rubber stopper to keep the switch from accidentally going into continuous mode. Hey it works. I've also been known to use worn plain canvas bags, diaper bags, and even a small commuter bag from "Fossil".. Whatever works for me at the time.
In the past, i've used lens pouches and/jacket pockets. I just don't find lenses in pockets to be very comfortable in daily routine (I'm a family man). I've had keys fall out much less expensive glass falling out. I also don't generally shoot with a neck strap preferring to have the camera in hand with the strap around my wrist. As such I only have a single hand to work with which makes reaching my right pocket difficult. When traveling light, I actually find this pretty useful and much quicker as I have a spare mount to hold the lens while in transition.
On the other hand, when carrying more with a small shoulder bag, the carrier obviously stays at home. So much easier to drop and pickup from within the bags compartments. Again, single handed operation and the bag itself is always on my left side. I also don't use any caps; front nor rear.... again PITA to remove/replace with a single hand.
As Roger Hicks, mentioned, I too was surprised how comfortable the camera was to use. I tried it with three lenses once.. It totally ruined the experience. PITA to change lenses, heavy, and not comfortable with the shoulder strap on my shoulder when not in use. Definitely for use with only two lighter weight and compact lenses. In my case, I shoot with Summarits which are relatively light in weight.
I would never claim the wrong and right way to do things, I could only recommend/show what works for me. I never really expected to seek approval nor disproval. I saw a couple threads in two different forums asking about an M8 lens carrier so I figure post since its worked for me 1+ years.
With that said, I pretty much hold the camera traditionally with the camera firmly supported by both hands.
This is with the shorter focal length lens mounted:
This is with the longer focal length. The only deviation from shooting without the carrier is that my left hand ring and pinky fingers are completely wrapped around the smaller mounted lens; much like a small grip.
As I said, I would never consider it for more glass nor heavier glass. Remember, I don't use the carrier as a replacement for my traditional bag.. simply when I want to travel light without a bag. For example, this is absolutely unusable and pointless:
The combination is way too heavy and off balanced. With the combination reversed, I can't get right hand's fingers in a firm grasp. Kinda pointless when the whole point is to travel light with 2 lenses.
Oh yes.. I also shoot with a 1d MarkIIn. Its still larger by comparison.. especially with glass.