I'm happy with it, it's small, light and all my equipement fits in it.
I can carry it everywhere with me, and supports cold/snow.
oh, and it is very well padded IMO, I dropped it accidentaly a few times already and it bounced hehe.
if you look for a small protective backpack, I'd recommend that one.

items shown are Nikon D70  Kit, the SB-600 flash, a Sigma 100-300mm f/4 EX DG IF HSM lens, and a 28-80mm Sigma D Macro lens

thanks to Georges Szegezdi for photos and comments.