This one really depends, even doh I voted "Waist". I have 2 basses which I use for band rehersal and shows. I'm in a new-metal band and I use my Modulus Q5 and my Salas Custom 4. Now, for my Salas Custom 4, i can play the songs and I can reach around my fretboard by putting the bass off my waist area(maybe a teeny bit lower). but when i goto the Modulus Q5, Since I use the B(tund to A) alot, I put it up near my Chest area, maybe a bit lower than that. Now near the chest for a metal band, that does not look cool. but Oh wellz 