Life & Style has a new interview with Holly Madison in which she doesn’t hold back with her thoughts about her ex Hugh Hefner’s engagement to 24 year-old Crystal Harris. Holly has previously shown some restraint when asked to comment on her octogenarian ex boyfriend’s engagement, saying in part that she was “very surprised” and “have a lot of different feelings on it.” Now Holly is opening up about her feelings and she’s clearly angry that she didn’t score an engagement from Hef after riding his Viagra gravy train for seven years. In September, 2008, back when Holly and Hef were still together, Hef said that he loved Holly, but added that “she wants very much to get married and have children. That isn’t very much in the cards for me.” Holly was pushing for a proposal their whole relationship, and spoke openly about her frustration that Hef had yet to propose. So it definitely comes as a surprise to her that Hef put a ring on the next, younger one to come along:

Holly Madison, shocked to find out about her ex-boyfriend Hue Hefner’s marriage proposal to Crystal Harris over Christmas, is now breaking her silence in the new issue of Life & Style—on newsstands now—warning Hef to reconsider.

“I’d like to see Hef settle down,” Holly told Life & Style during the exclusive interview on Jan. 6. “I just want it to be with the right person, and I feel like he’s making a hasty decision. I’m not sure Crystal is the best thing for him.”

While Crystal, 24, moved into the Playboy Mansion only in January 2009, Holly was Hef’s right hand for six years until the two split in October 2008. “Crystal hasn’t been around very long — she’s a mysterious character,” says Holly. “No one knows much about her. Plus, she’s very young, probably too young to settle down. I’ve seen a lot of girls try to date Hef, and some have ulterior motives. I don’t think it would be a bad idea for him to get to know her a little better. I think it’s possible Crystal could break Hef’s heart. They could end up divorcing, and she could take half his money.”

So she arranged a face-to-face with the duo on Jan. 5 to witness the duo’s supposed joy for herself. “I wanted to check up in person,” Holly says about of the emotional encounter, which was filmed for season two of her E! reality series, Holly’s World (premiering on Jan. 23). “I told them that I wish them the best and that Crystal had better not do him wrong or else I’ll kick her butt. It was definitely awkward.”

In the end, Holly just hopes Hef has indeed found his perfect match. “I’m not jealous that he’d marry someone else. I just don’t want it to be a girl who’s using him to start her career,” she tells Life & Style. “Basically, I think he could do better than Crystal.”

Speaking via her manager, Michael Blakey, Crystal told Life & Style, “I’ve never been happier in my life. I’m so excited to be marrying Hef.”

[From Life & Style]

So Holly’s “not jealous” that Crystal scored an engagement from Hef after less than two years when she worked on him for seven with no success. She just thinks that Crystal has other motives and is using him. What were Holly’s motives then? Did she love Hef for his personality? I liked Holly on The Girls Next Door and I think she did love Hef and was better suited for him, given what little I know about Crystal, but she’s got some sour grapes going on. It’s not like Hef was going to take up with some woman half his age with her own career and ambitions. He’s a vehicle for these women and that’s why he’s able to score them so young. Holly may have loved Hef but she also loved what he could do for her.

Hefner recently re-purchased the majority share of Playboy, which is thought to indicate that he’s ready to leave the empire to his sons. Hopefully he’ll get an iron clad prenup with Crystal – if he ever does marry her.

Photo credit: PRPhotos. Check out Holly’s shoes. She looks ridiculous.