don't have my CHL yet but i've tried a few holsters and this is what i've found works best for me so far (just trying them on around the house). for my M&P 40c i've got a Blackhawk Serpa paddle holster with adjustable cant (holds the gun a lot closer to my body than i expected). i've found that even with a light jacket, it conceals VERY well at about 3:30 with a slight forward cant. the holster i bought is made for the full-size M&P 40 so i used a dremel to cut the length down (the holster extended about an inch beyond the end of the gun) so even short jackets conceal it very well. in fact this past weekend we were out at the family ranch and i was wearing that gun in the Blackhawk holster all day saturday under a light jacket and nobody even noticed. i showed my dad and wife where i was carrying and they had no clue it was there the entire time, and we were outside working most of the day so i was bending over, squatting, picking things up, etc. i wouldn't be able to wear this holster without a jacket though, but it's the most comfortable option i've tried so far.
someone told me about a "pancake" type OWB holster that would conceal pretty well without a jacket, i haven't looked into these yet but definitely will.
still haven't found "the" IWB holster i'd like to use yet, but i have a cheap one similar to the picture below and at about 4:00 it conceals under my shirts very well. i'll probably get a Comp Tac or Crossbreed Supertuck once i start carrying, this thing doesn't hold the gun very securely. i don't feel comfortable carrying at 6:00, it's the easiest place on my body to conceal but is uncomfortable to sit down and the gun isn't as accessible as i'd like, especially since i have a bad right shoulder... despite 2 rotator cuff surgeries. just my 2 cents.
