I like mine a wee bit higher, but I have short, stumpy arms. Higher means easier access.

My pipe band played in with another band at a recent area Highland games a few weeks ago. There was a gentleman of great substance (and height) playing with the other band, and for some reason, while still being looped through his belt loops, his sporran was clear down just above his knees. It was all I could do to keep from going over and adjusting his sporran chain. I don't care how big y'are -- that's just sloppy.