The SP logo maybe a problem as anyone that sees the adds will have no confusion at all about what it is.
I used to use a "fanny pack" a lot and still do from time to time when traveling and carrying large. The only time I had a problem with anyone recognizing it as a holster was in a McDonalds one morning.....and that was because it had gotten caught in my seatbelt getting out of the truck and was hanging almost completely open with a 1911 in full view. The counter girl whispered "Your zipper is open." and I immediately checked my fly and she said "No, your OTHER zipper." I blushed even more and zipped my pouch and continued my order and thanked her.
Meanwhile. For a bit I had a blue nylon fanny pack and being in "UF Gator Country" I used patch stickem for uniform patches and a few thread tacks to put a "Fightin' Gator" patch and an EMT patch on the bag and it sort of disappeared to most folks. I like the idea of the corporate logos on the new leather belt wallet SP if you just have to have one. Still, what do you say if someone wants to see your new "brain"?
For a year or two I carried a Beretta 21A in a Hoefner belt bag that was about the right sized for a hard plastic cigarette case like we had in the service to keep our smokes from being crushed. I don't smoke but carried "cowboys" and a C rat folding match book anyway for those that "needed the stuff and sold them dearly. This pouch was about the perfect size for those and had a place for the gun, a spare mag and a couple of internal cartridge loops for those that wanted a classic double derringer design gun in .22 or a High Standard DA. My only issue with it initially was that folks would assume I was a smoker and get angry when I said "No, I do not have a light." So I added a book of matches to the outside unzippered pocket. Still got asked for a smoke on occasion and then announced "It's a Cell Phone." When I got asked if someone could borrow my cell phone I would say, "It's my insulin kit" Main reasons I quit carrying it were it occasionally got caught on seatbelts and putting on and taking it off even with the steel belt clip like a cheap IWB holster was just a pain and the clip eventually got bent enough I was concerned about loosing the pouch and gun when it got caught on stuff. It did have a small zippered pocket behind the unzippered pocket on front and I carried a small flat lock blade in that along with the AAA Mini Mag, a couple of bandaids, a threaded needle in a section of soda straw, a folded bit of paper and a golf pencil in that. Opening that section and using stuff seemed to reduce suspicions about the pouch as well.
It also helps a lot not to have a "Barney (Fife) Walk" that is looking like you are going to draw from your pouch at the drop of a hat. A common issue with Rookie cops and new CCW carriers.
-kBob