I've been using this Pegasus by SwissGear nearly every single day since buying it in July 2008--I use it for work, for school, and even take it on vacations. My wife calls it my "male purse." :)
Unlike several other laptop-specific bookbags I've tried, this has the best overall design in regards to pockets, separate internal compartments, and it's even capable of carrying two different laptops at the same time, without a problem. I'm able to carry a set of tools, a 50-pack spindle of CDR's and DVDR's, an array of hard-plastic double-CD/DVD cases containing various work-related images and utilities, a 3.5" hard drive w/shockproof packaging, a few CAT6 and USB cables, AC adaptors for a Lenovo and MacBook Pro, several USB thumbdrives, a handheld label printer, a stash of low-carb energy bars, a few writing utensils, and the occasional book. Then two 15" laptops. Sure, it's heavy, and a bit of a tight fit, but this bag can *take* it!!
The padded shoulder straps work well. The stitching used throughout certainly has proved tough enough for me in nearly four years of daily use--even when carrying an additional laptop at the same time for the past six months. Due to a bike accident many moons ago I only wear the bag on one shoulder, and am impressed that the single strap hasn't even begun to show signs of undue wear and tear.
I've looked at other competing products, and have been pleasantly surprised that this "older" model from SwissGear not only remains on the market, it's also one of the most highly-rated laptop bookbags--even when compared to much more recent and expensive ones.
If there's _any_ potential downside to this bag, for me, it's the lack of a water-resistant bottom--don't set it down on a wet/damp surface... the nylon material tends to wick the moisture off the ground.
For the price, I've been extremely pleased with this product and would not hesitate to recommend it for work or school (or both!).