This is a great bag IF you are an average right-handed person and don't mind not having the grab handle.
Pros:
*rugged construction - this bag will last forever.
*GIGANTIC pouch / pocket
*pretty much waterproof (as long as you batten down the hatches and zip it up)
*lots of internal storage pouches, pockets, nooks and crannies
*surprisingly comfortable to wear.

Cons:
*No grab handle (yes,  I found it was definitely worth it)
*not as comfortable or useful for lefties
*no external pockets (although - I believe external pockets might compromise the water resistance)
*a bit larger than I needed it to be. It tended to flop around a bit.
*kind of pricey, but you get what you pay for.

I have to admit that I got rid of this bag and ordered a custom bag from the Timbuk2 website.  Here's why:
*The medium sized bag ended up being too big for my purposes (and I'm a BIG guy) - the small size was more than sufficient.
*Adding a grab handle on the top of the bag was definitely worth it.
*I'm a lefty, and when I bought this bag,  I thought that the fact that it was a rightie bag wouldn't be that big of a deal - I was wrong. I lost access to the "napoleon pocket" and the overall comfort wasn't as good.
*I was able to customize the colors and add a super-reflective panel for high visibility at night.

The custom bag from the website ended up being significantly more expensive than the prefab bag, but I have decided it was worth it.  I LOVE my custom bag and will get many many years of use out of it.