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Pretty much what everyone else had said: good for newborn stage, less bulky than Ergo, easy to put on. If you think the original could get too hot they do have a summer version which is supposedly to be cooler. I am just under 5'3 and 115 pounds and the XS is a good fit for me. If you find that it stretches out after a few wear you can just put it back the washer/dryer and it will go back to the original size.
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I've tried almost everything on the market, my fav is the Boba G3.
I didn't feel the baby was secure enough in the baby k'tan, always afraid that he was going to fall out from under.
I didn't like the Ergo with insert because it felt bulky.
I didn't even want to mess with the wraps, just to completed.
The Boba has been a life saver, especially when I go grocery shopping. (I'm 5'1)
It worked great during the infant stage, I did not have the same scarry feeling like with the baby k'tan.
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The k'tan was my fave, hands down. It lived in my car. I didn't use a bucket car seat, so I used the k'tan every single time I got DD out of the car. I used it until she was over a year old. I was in the 130's and 5'3" wearing a small, but I sometimes wished for an XS. Sometimes I washed it just to make it tighter. You should definitely go with the XS.