I tried out this configuration and really liked getting the discs from the top rather than the bottom-front. I still wanted to have some storage space, so I made this--
So the discs are now sitting a bit higher. Since I hacked off the sunglasses holder, the top-front flap can be folded in.
Opening the bottom-front, you can store a few things: couple of water bottles, some extra towels, or even a small insulated lunch bag.
Yes, when you open the bottom, you will see the bottom of the discs. I didn't want the discs to sit too high, so I tried varying heights. This is what I settled on. Plus, the strip between the bottom and top openings help to hold in the discs.
One thing I did notice is that there's a slight bulge from the discs in the middle of the back. Nothing extreme; most of the weight is now there instead of the bottom. Also, I think with this setup you may lose a disc or two of capacity. Not sure. I've got 4 putters (not counting the two in the pocket), 4 mids, 4 fairways, and 4 drivers with room for one more driver.
I have yet to take it on course to give it a real go.