I got this bag as a gift from my husband (actually it turned out to be the "small" one - I would not buy anything larger). I let him order it after considerable hesitation due to high price. That's why it does not show as "verified Amazon purchase."

At first I was disappointed with the leather quality, but I did not complain - I did not want to hurt my husband's feelings. I also noticed that the bottom side of the shoulder strap was made of some rubbery, unpleasant to touch material, but since it helped staying on the shoulder, I accepted the trade off.  The detailed description states:  "features a 12 long strip of non-slip material at the top to keep the bag stable."
I am all for function first, otherwise I would not have accepted a backpack looking purse). Now four months later, this rubbery material is already worn out, unsightly peeling on rubbed off edges, fraying and showing a woven fabric underneath.

This is not what I expected from such an expensive bag with a light use. Yes, this was my most sedentary four months ever. I think the all leather strap would have been more durable, not to mention more aesthetically pleasing.

The design is awesome, though I would prefer no Velcro in the side open pocket, because it literally scrapes my skin. There are so many pockets, I simply don't use that one, though had kept my keys in there for few first days.

The first time I wore it, my friend asked me to let her know how I like it, because she had been considering purchasing this bag for herself. Unfortunately, I would NOT recommend this bag to a friend, unless she can afford to replace it after a half a year.

Edited to add: I contacted the manufacturer in December 2012 and they asked me to send the bag for inspection. If the warranty is good, I may upgrade my rating. Still, it may take up to 6 weeks and this is a long time to use another (summer) purse instead.

Updated January 20, 2013: I received a new bag yesterday and am pretty happy that the company stands behind their product and warranty. It also seems that the underside of the shoulder strap is made of something less obviously synthetic.  We will see how it holds up. I am upgrading the rating to three stars because of great customer service.

Updated March 24, 2013: The zipper for one of the external pockets is rubbing against my hip and causing significant pilling of sweaters and even new pants (within the first week). The other pocket has a flap, but the design is not symmetric and I wear the bag on my left shoulder. Cotton garments are not affected.

Updated May 15, 2014: The synthetic material on the underside of the strap pealed and cracked several months ago. The bag does not survive more than a year due to this faulty feature. The cracks in plastic underside may snatch and tear delicate fabric on the shoulder. Everything else still looks and works perfect. I downgraded the review back to two stars. It's such a pity to throw out an otherwise good looking leather bag.