Ive been using this bag for about a week now.  I freakin love it!  It is large enough to hold everything I need.  Im using it as a purse. But when I travel to Europe next month, I will use it as a backpack carry on.  I haven't tested the waterproof-ness, but the straps and zippers seem to be of excellent quality.  I like it so much, I ordered a second one (flower print) last night.