I bought the black one, this is my second purchase of this exact bag.
My first purchase in 2007 was in saddle/tan.
Some of the differences are magnets are used instead of
velcro, and the strap hardware is a little more robust.

Review for the new Black Bag:
Good quality leather - hardware made well -construction is very good.
Size is generous for a smaller bag. Magazines, Ipad, file folders all fit.
The feel of the leather feels like real leather, not like some other bags made in
China.  Also, one reviewer mentioned the magnetic flaps don't stay put, mine work fine.
I would definitely recommend this bag.