Recently picked up a LV Belt from Ali for £7. Ordered on July 6th, delivered July 22 to the UK. I got it from this store:
http://www.aliexpress.com/store/1232570
Very surprised with how this feels. Feels soft, very flexible, even smells like genuine leather. I'm not sure how it compares with genuine touch wise, but a couple observations are the buckle is an L shape rather than a square shape on the right hand side of the V. There's no Louis Vuitton stamp on the inside at the back. The LV logo square is too close to the buckle and one of the holes also goes through a LV logo square. The stitching looks grey in the gen website photo but on this belt it's black and spaced closer together.
Photos below, included some measurements of key areas and 2 photos of the inside / reverse of the belt.
Reverse of the belt