Just got this as a Christmas gift. Timbuk2 Metro Tote w/2-Way gear pouch. Perfect for my everyday commute, as my Backpack was just too big & bulky for daily use.
i just got my Dakine Transfer... it's still a little big, but it's the closest thing to what i've been looking for, very well made and well designed, and a great price too. it should serve me well for a looong time.