I've come across a few (old) discussions about the TubeGuard recently. It seems like not many people are using it! Well, I have one and (here I go plugging the SpiBelt again...) I attach it to my SpiBelt, which I use to hold my pump. The beauty of this is that I don't have to wind and unwind the tubing from the TubeGuard unless I'm changing my tubing. I prefer my SpiBelt over clipping my pump to my pants because it allows me to just pull the SpiBelt up my stomach a little when I need to pull my pants down (bathroom ;) ) and then my pump isn't in the way and I'm not risking pulling my site out by pulling it down with my pants! With my tube wrapped up in my TubeGuard, it is also out of my way. You do have to be a little careful how much you wrap in it. Obviously if you're using a site further away from your waist you'll be wrapping less tubing.
I have to say I was resisting the urge to buy the TubeGuard because, while the cost is only about ten dollars, everywhere I found it the shipping cost made it twice that! However...it has been a great help. I hated taking the extra time to tuck the tubing somewhere everytime I pulled my pants down! So, especially for my fellow SpiBelt fans, I would recommend shelling out the money for it if you can!