I experimented with a few different bags in the last three years. I had a cart bag which was great only for all of the things it could carry on the back of the cart. That being said, There is plenty of room for a round with a light stand bag. I had the Mizzuno BR-D4 stand bag which had a great magnetic pocket on the back for a range finder with two felt lined sides and plenty of storage for everything I could think to put in. a bag including rain gear. The only down side to this was I could actually notice the extra weight when walking. I still only use this bag for the cart now when I know I'll be playing a long round with friends. It is very nice to still grab the bag off the cart and stand it next to the range.
Now all that being said I walk 75% of the time I play and I love the Titleist Players 4 bag. The back pad is super comfortable for me and the straps hit the shoulders right for me (Big Chested Here). It is lacking a magnetic pocket which the ping hoofer has but it all came down to the lightness and comfort. I actually took my clubs and 6 balls into the store to try it out. For me the less weight the better when walking. I take 6 balls only for instance.
I could do the hybrid walking but it was heavier and did have some shoulder strain once from this. I suggest the lightest back with your must have features is the best thing for walking with the bag on the back.
The flip-side is the larger bags fit on my pushcart better. But I hate that thing due to trunk space.