I have both kinds and now use my Open Shot almost exclusively. Climbing is a little different, but not that different / difficult if you are in decent shape.
I too was a little concerned about the "safe feeling" but it turned out to be a "non-issue" for me (always wear your harness).
As far as the stuff hanging from the bar - there is some room on the side of the upper section to hang a small bag / water bottle, but I use a "screw-in" hook that just goes in the tree trunk.