I've been using a Monster fanny pack for two seasons and I really like it. For stand hunting it seems to hold plenty of gear, the only time I run short on room is if I'm doing an all day sit and want to pack a bunch of munchies as well. In that case I just ditch some gear I wont need for the intended location. I prefer the fanny over a backpack because the pockets seem more organized, or compartmentalized. With a regular pack it seemed that whatever I needed was always buried at the very bottom under a ton of other gear and it was frustrating. If I'm carrying my lonewolf stand, I just run the Monster pack buckles through the platform of the stand and let it hang off the back, seems to work fine. When I get to the tree I put it on my waist, on the front, and reshoulder the stand so I can get both up the tree in one trip. If you actually fill the Monster, you'll probably end up using the shoulder straps most of the time.
If you can snag a deal from Limb, I think it would be a good investment.