I hear many folks mention 4 o'clock for their rig position. I however am always forward of this - electing to be 3 o'clock or just verging a bit to 3.30. Incidentally - I have never gotten on with IWB ... it's an anatomical/comfort deal - so OWB always.
If I go too far back 2 things in particular happen - 1) I tend to find that gun butt sticks out more and even with large lose shirt will print much more if bending etc. 2) It is far less feasable or comfortable when in truck and putting a belt on.
A third issue - a personal one - is simply what feels good for a draw - and what works. I can side-swipe ands flick back my shirt and be on the gun quick, with the draw coming smoothly - it suits my ''claw hand'' position as I aquire the grip. Further round seems more awkward.
I was given an OWB SOB rig .. beautiful leather, but am not that happy with the position regarding comfort - or come to that - the potential for pain if falling. Sitting also difficult. Mind you - the draw is in fact quite fast and fluid.
Anyways - let's hear your views on this, and preferences and why.