I have owned this bag now for about 6 months. This bag catches some flak because of its high price (I have the larger more expensive one). It is costly. However, I would definitely recommend this bag. The key to enjoying and using this bag to its maximum utility is learning how to use it. I repeat: LEARN how to use this bag. Once you learn how to use it, you'll recognize its value. That sounds odd to say, but the reason I say this is because for a lot of people, they may never know how to figure out the bag. Unfortunately, part of the reason why that may be is because a lot of people just aren't used to a bag with a lot of depth, which this bag offers. Also, it takes a little playing around to figure out how to use the features the bag offers.
PROS
The bag looks and feels to be of excellent design. It looks great.
The magnet lock system is AWESOME. Very easy and intuitive to use to open and close the main flap, and tighten the flap so everything inside is secure.
The collapsible velcro lining system is also brilliant! At first, I was a little underwhelmed with these things because they seemed a bit flimsy. But, when you figure out how much flexibility they can give you for inside storage, you realize how nice this system is, PARTICULARLY for "stacking" items on top of each other (i.e. keeping some lenses tucked in on a bottom later and folding part of the dividers over it to create a second level within the bag). For me, I keep 3 prime lenses on the bottom layer, each in a separate folded over compartment, and then just lay my Sony a7 with a 70-200 attached length wise on top of them (that's my "full" kit, and often times I wouldn't travel with all of that).
The strap system is very comfortable, offering several different positions to carry the bag. There are 3 lock positions on the strap that allow you to just clip one end of the strap for a very close fit (i.e. if you are on a bike and need the bag riding high on your back), a medium carry length, and a very low, waist level carry length. Personally, I prefer the middle one. But in addition to that, there is also a very intuitive and easy to use quick release latch for you to lengthen or shorten the strap as well. Very cool.
The tripod system is a must for me. Some bags have straps hanging on the bottom that you somehow are supposed to tether tightly to the bottom of the bag. Everyone who has used something like this before knows how unworkable that is. By keeping the tripod snug on top of the bag, it provides an actual solution for you to carry it securely if you need to with the bag (and not need to carry a separate tripod bag).
CONS
The one major con to this bag is, why no inside rain cover? Yes, its true that with the mag lock system, you can close the main flap pretty tightly, but, its still not "sealed" from rain or dust. However, what is most disturbing to me is that if you use the tripod carry feature - where one of the legs is secured under the flap of the bag - that means that any moisture or dirt on the tripod leg just drops right into the bag on top of your camera and lenses. Wow! Peak Design, what was your thinking behind omitting a second, optional inside flap to prevent that? To me, this is a significant flaw. They probably did this so one could easy reach into a closed bag through the top zipper to directly access one's gear. Still, having an optional inside zipper locked flap under the main one to separate a dirty or wet tripod leg from the camera gear is a HUGE miss!
The second flaw is that, although there are 2 compartments on each side of the bag, they are really not as functional as they could be. They did this, because, on top of each side pocket is a strap to secure a peak design camera clip, which, I presume, "needs" to be tightly secured to the body of the bag. Yes, that is a very cool feature, but it still limits the functionality of the side pockets, which really can barely expand to hold anything than maybe some papers, pens, etc. Nothing you would want to keep "safe" either since these items could potentially fall out too (i.e. you would never put your wallet there). I use one side pocket to stuff in a plastic rain protector, and the other, I don't use at all. It would have been super cool if at least for one of the side pockets, there was more flexibility so one could put in a water bottle. Now THAT would have been excellent - especially since this bag is targeted to the "adventuring" photographer who is out and about and needing to bring water with them! As I mentioned, yes these flaws may have been very hard to address given the fact that they wanted this bag to hold the camera clips, I assume, for people who wanted the bag on the right or left side. Still, the lack of at least one more functional side pocket is a significant omission for me. Your other option is to keep a water bottle INSIDE the bag, but again, do you really want to keep a water bottle that close to your gear? I don't think so!
Summary: Very nice bag, very cool features that make it very functional for people who use bags a lot, but missing some significant things as well. Pros outweigh the cons, however.