Something to consider, gravity is not your friend, and you will not see a current professional carry their knife in such a manner.
Something to help you is 8 mags is a bit much. Both in weight and bulk. Trying to maneuver in tight areas of homes is more difficult the wider you are, and your center of gravity is affected a bit. Divide it up, carry four on your vest and carry some more in a small pack with other items needed.
My frame of reference is from doing the work of entries in a number of home styles in the US the past decade. I've carried gear like yours, and found out over time what was more efficient. The knife, well, I'll admit I carried one just like that in that manner back when I was a kid in Boy Scouts...and I learned way back then it wasn't a good idea.
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