I can't begin to tell you how much time I lose to equipment failures!
Indeed, J-J! I put on a pair of shorts last night that I last wore in August, and I had to adjust the strap 4+ inches. Not complaining at all. It is a good thing.
The loose pants thing happens to me frequently. Usually accompanied by a knotted drawstring. The question is always should I stop, spend time and take care of it or finish the course with droopy pants.
Well, there are droopy drawers, and then there are drawers sliding down to the knees. ;-)