Nice piece, Andrew.
Like you, I've been a fan of the Peak Design straps for several years. I have the Slide Lite for my Fujifilm X-S10 and OM-1 and the regular Slide for my Nikon Z6. I don't trust myself to carry a camera without a strap, but I also find them a nuisance when shooting - especially when turning the camera to shoot in portrait orientation or when shooting macro, say, in a bed of flowers. It just dangles there and gets in the way. And you're 100% right about straps taking up room in the bag.
So when the Kickstarter campaign launched for the Micro Clutch, I hopped on board. Mine arrived a few weeks ago, and I was not disappointed. It's as impressively designed as anything Peak Design has ever made, and as always, they sweat the details.
I got the L version for the X-S10, and it fits perfectly. I ended up using the mount point on the bracket for the second Capture Clip.
I have only two niggles. The first is that you have to remove the plate to get to the battery and card slot on the X-S10, but I can deal with that.
The second was that it took some experimenting with how to best adjust the thing to make it comfortable. I, too, kept wanting to put my index, middle, and ring fingers inside the strap, but that didn't quite work. Keeping my index finger and pinky outside of the strap did the trick, and with a little practice, it became second nature.
So far, I'm really impressed.