Here's a mod shot with my orange (vermilion?) link Soho. I am 5' 5". I have it on the longest adjustment and I feel it hits me just right on the hip. It doesn't get slouchy but just softer and more malleable with time. I don't have a problem with it bouncing as I walk but the hangtag on the side does bounce and make some noise. As you can see from the picture, the strap is not made entirely of links. They come up about maybe 6 or 7 inches from the ends. So it is not uncomfortable at all to wear. I fly quite a bit internationally and this has become my little go to bag for my passport, tickets, money, credit card, ID and phone. All those little things you need to have easy access to as you go through security and as you board. I even just keep it on myself during the flight and I hardly even notice it's there.
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I love this bag. I have the vermilion and the bordeaux. I'm so tempted to get the black tea rose one but as much as I love them I'm not sure I need three of them [emoji12]