I think that the reason for buying a bag, even if you need to make a small change, is that everything else about it is just right. And I have found that some sizes/shapes/colors, etc, with Coach do not come around all of the time. So if you find something that is otherwise perfect for you other than something like fringe, etc, if you plan to keep the bag for yourself there is no problem with having to do a slight alteration.
I am used to making some alterations to almost all of my Coach bags-- a lot of mine are satchels that have a crossbody strap. I usually carry them as satchels, but do not like crossbody, so I typically shorten the crossbody strap to shoulder length--and it is then perfect for me.
As for going to the outlet/FOS/SAS, many bags do, but generally the very popular colors or styles might not. For example the Dakotah had a lot of extras in black, but not in colors like blue, etc--they were nowhere to be found after selling out. So it is a gamble--you can wait, but you might end up having to look on ebay if the bag is sold out.
