There are only 4 loops because they are for spare cartridges, otherwise a belt full of loops looks pretty cool, but it gets mighty heavy when they are full.
Frodo, one of the things I do to get parallel to the edge stitch lines is to use a groover, even when machine sewing, it gives you a path to follow so you dont have to rely on a edge guide.
Light coats, keep the oil warm, and one of the bigger things, if your leather is on the softer side it will take oil faster, any kind of stamping will also take oil quicker, so light coats and set someplace warm to let the oil even out.