I wrote two other reviews that are slightly critical of SB... this one is different.  When I first got the briefcase I initially thought it was a 3 star product.... but after using it for a month I'm liking it more and more.  I'll do the negatives first:

-The center leather strap is too long.  Looks like an elephant trunk.  If the bag is not overstuffed you can cinch it up to the very top strap.  I think that looks bad.  More worrisome is that if the leather stretches there are no more holes to work with.
-The leather scratches too easily.  It seems like it is designed to look rugged without putting the work in.  After owning it for a month it looks like I've owned it for 4 years.  Patina should take work!
-The handle is a little close to the top of the briefcase.  Often my knuckles will scrape the metal ring.
-Backpack mode is stupid and uncomfortable.  You will look silly.
-Price.  I think you are looking at something that cost far less to produce.  Dave kind of has the market cornered on this type of product though, so supply and demand kicks in.

Here is what i like about it:

-Quality.  This is NOTHING like the Samsonite leather briefcase I carried as a cadet.  The leather is much stronger and not as likely to rip.
-Rivets and double stitching.  Again it goes back to quality.  This is why SB can gouge you on price... no other company makes them like this.
-Color.  I've owned products in Tobacco and Dark Coffee Brown.  Both are amazing looking.  I prefer the tobacco... (interestingly that's what the personality test said I would like).  Very laid back- probably wouldn't be the most professional choice.  Then again as a laid back guy I don't care :)
-The carry strap is very good.  Ask them to include the dog leash style clips.  The screw style clips are garbage.
-The large size is perfect for me.  I'm 5'10" and 155 lbs.  It can hold my lunch, iPad, gym clothes, any documents I need and still have plenty of room leftover.
-The key holder is a nice touch.  The first time I've seen one that doesn't look like a cheap afterthought.
-The two drink holders on the outside are very nice.  They are awesome for stashing your keys in a pinch.
-The outside newspaper pocket is great for an iPad or magazine, or stuffing in documents without opening the briefcase.

Some common complaints are that the briefcase is too heavy and hard to open.  In my daily use I do not find either to be the case.  Again I'm a skinny guy with a runner's build and do not find it too heavy.  Then again I'm active duty military and workout a decent amount so take that for what it's worth.  It's easy to open.  The bigger complaint should be the strap length.

I do get complimented on this bag often.  Being military usually the compliments are casual insults followed by envious glances.  The common one is, "Nice man purse."  This will be followed by the guy coming over and checking out the bag, then asking where I got it.  Lots of Indiana Jones comments too... so just be ready for that.

I am very happy with my briefcase.  I would buy one again if this was stolen (don't steal it, please).  Just know some of the downsides going in and you won't be disappointed at all.