From someone who actually runs in that vest (and the SJ UD vest), and has tried everything from 24-10oz bottles…
To answer you question: Yes, 10oz bottles work great and do not bounce around. I stuff various things in those pockets in addition to bottles, or sometimes instead of them: phone, food, camera, trash, etc. Your bottles will slosh though, and you can hear the sloshy noise. This bothers some people. It also took be a few runs to get used to the bottles there, and harden up to some discomfort/bruising from the bottles on my ribcage. Ran 2 100s in the SJ vest last year, no problem.
The AK vest and SJ vest are extremely similar in weight, the SJ has an extra pocket in the back, as well as a wider band around the rib cage (as opposed to the AK vest which just has a thin strap), and the SJ vest’s front bottle pockets also have little tiny pockets that I find helpful for trash.
All in all, the AK vest is cheaper, and they fit very similarly, but I prefer the SJ vest because it is just as light, I feel it is more sturdy on my frame, and that additional pocket in the back is a lifesaver for me- extra batteries, jacket, etc.
The upgrade looks hardly worth it: http://ultrarunnerpodcast.com/ultimate-direction-ak-vest-2-0/ (read there for more).
Both vests are super light, comfortable and haven’t ripped or broken down in the 14 months I’ve owned them.