Yes, the case is designed to house all major components. That being said, feel free to fit your specific accessories as you see fit. The photo is intended to give you an idea as to how many different accessories can be accomodated.
I have carried it once in my back pack when I traveled....its like the size of a laptop case just a little thicker. The shell has a hardness to it so it protects your equipment just fine. So the only down side is it takes up some room.....it's like carrying a larger school book in your back pack...but the plus is it stores a lot of your equipment....I also have a smaller size when I don't need to take a lot of stuff. It's the size of a small padded lunch box. The next thing I am going to look at is the back packs made for the go pro...they look pretty sweet. A lot of compartments.