There are a few tiny things that would make it absolutely perfect for me, but its very very close as is.  Plenty of pockets, the straps are excellent lengths, and it is light but sturdy.  Easily fit my laptop, and if I needed to bring my docking station and peripherals it would have been no problem (which is more than I can say for my ugly laptop bag).
Works great as a mom bag - held all the stuff I needed to bring just in case for the kids.  It would be great as a diaper bag.
This might work as a project bag, but the Velcro could catch fiber.  As long as that is fully covered it should be OK.

Very happy with this bag.