I picked up this bag on a whim while in Te Casan to buy Natalie Portman shoes. It has replaced my Kathy Van Zeeland bags as my new staple. It is large enough to fit a large paperback and a pair of pumps - a must if you have a lifestyle that resembles mine. But it isn't so heavy that you feel silly carrying it for just your wallet, cellphone, and makeup.
I love the little snap-ring for your keys. I have never found anything comparable in terms of ease of getting them on and off, and I always know right where they are.
The four outer pockets would be great for making cellphones, Blackberries, and ipods easily accessible, unless you're me and you take the subway everyday, and you're paranoid. I would have preferred more inner pockets. The three they have are fairly low down and not the easiest (or hardest) to reach. But they do work well for my building pass, NFT and inhaler; three other things I need to keep on hand.