Let me just say, this bag is wonderful.
The materials are top notch, all around. The bag and strap are made of very thick, rugged canvas. The sliders and latches are all made of metal; the strap adjustment loops and zipper strips are plastic, but they seem to be very large and very tough.
The front and rear panels, the bottom, and the dividers are well padded. The small side panels are not padded, so do be aware of that. The bottom is rigid, to keep its general structure and allow it to stand on its own. The shoulder strap has a grippy material that keeps it firmly in place.
The velcro is substantial and it makes things very secure. I feel safe enough leaving the bag partially unzipped and relying on the velcro alone for quicker access. Yes, it's loud, but I'm OK with that.
I can't honestly find a single complaint, other than that it's perhaps a bit pricey. It does exactly what it says, and it just oozes quality.
I was looking for a bag specifically for traveling light with a small amount of Micro 4/3 gear, and after extensive research I was torn between this and the slightly taller (but lower volume) F-5XA. I ultimately settled on this model, and here's what I can cram in here if I'm really trying (I don't have quite this much in there for the video):
- E-P2 body with one of the lenses below mounted
- Olympus 17mm f/2.8
- Olympus 14-42mm
- Panasonic 45-200mm
- Panasonic 20mm f/1.7
- Olympus 50mm f/2 Macro with Micro 4/3 adapter mounted
- Olympus FL-14 flash
- Olympus VF1 optical viewfinder
- Olympus VF2 electronic viewfinder
- Spare battery/memory cards/filters/etc in the front pocket
In one completely absurd configuration, I've successfully fit my E-P2 mounted to the Olympus Zuiko 50-200mm f/2.8-3.5 Digital ED SWD Lens in this bag. It *just* fits, and you can use the velcro dividers to create a little pocket underneath the 50-200mm lens to store an m4/3 lens or two.
It does really make you appreciate how much smaller M4/3 is, and how different its needs are. What's for a SLR a small day bag (it'll hold my DSLR + mounted lens + 1 or 2 small extra lenses) can hold an entire M4/3 system.
*** Video errata ***
- I think I called the flash the "FL20" - it's actually the Olympus FL-14
- When talking about my DSLR in this bag, I mangled what's attached and what's not attached. A typical configuration for me is DSLR + small zoom + prime + flash (or another small zoom or prime), with one lens mounted.
*** Update 04/2011 ***
After heavily using (and abusing) this bag over the past year, the fading others have described is starting to become apparent. I'm pretty sure this is due to sun exposure, and it's most apparent on the top flap. It doesn't impact the bag's performance in any way and the faded look doesn't bother me personally (hey, it's got "character" now), but if you want to avoid this you might want to consider the tan model instead of green.