I love my Schiek. I use it for heavy sets of everything except bench. I've had it for over 15 years (never used it much until the last year though!), so I can say that the material will stick around for a while.
I just watched the Schiek video on how to fasten it properly. That was interesting, seemed useful, so I'm going to try it out the next time I'm on my 5/3/1 "1" week of lifting.