A Sneaky Pete (SP) is less a holster and more of a stiff, large carry pouch with a magnetic flap. It has some advantages for concealment, perhaps, but some disadvantages for quick access. For me, quick access is a primary concern, but for you, OWB concealment without a covering garment may be your first priority.
However, onlookers are supposed to think what you have is a cell phone case, and the size of a SP that would fit a Shield v. 1 would be larger than any cell phone, therefore telegraphing that you have something unique hanging on your belt, possibly reducing concealment rather than enhancing it.
OWB with such concealment may be hard to defend against a grab attempt. The flap may get in the way of you defeating the grab.
SP's are pretty expensive, right up there with some of the best Kydex and even leather standard OWB holsters that require a covering garment for concealment.
Drawing one handed may be a problem, especially if worn 3-5 o'clock. At one, two or three o'clock two hands are preferred (faster), just as with a covering garment over a standard holster. I don't think you gain anything with draw speed.
And if you do wear a coat over it, such as in cold weather, clearing both the coat and the flap is slow and clumsy.
Of course you may have physique reasons for choosing this method of carry; you don't say. So it is hard to recommend something different without understanding your requirements better. I just feel that a Sneaky Pete pouch holster has a number of drawbacks that may not be obvious to some users. The first is that whatever dimensions the gun has, the SP makes them all bigger on all sides. A Shield becomes almost the size of a full size gun externally.
Of the CC priorities, only you can set them in weighted order for you: concealment, retention, comfort, size, cost, speed, position, material, etc., but a good understanding of these ordered priorities is helpful to make useful alternate recommendations for you.
