Ok, I've heard of the "smell" problem with alot of these PU "leather" bags from China, so I was prepared for it. When you open it, yes it does smell lind of fishy, which apparently has something to do with the factory not airing out the product sufficiently. Apperently this dissappears over but in the mean time, I'll just be leaving it open to air for a week or so. Other than the smell, I am very happy with the bag. It looks really nice...very vintage, comes with a short or long strap and the lining is a chocolate brown, synthetic shiny fabric which is fine(you're not going to get silk for that price). The clip overs and shuts perfectly, which is good because I was a bit wirried about that. Oh and it's a good size, not huge ... about 12 by 9 inches.
Overall, I am very happy with this bag, given how inexpensive it was and feel the inconvenience of the smell is worth it, provided it DOES eventually evaporate.