I can speak to the quality of the Valentino bow clutch. I've had mine for six years. I've conditioned it a few times, but other than that I haven't babied it. Of course, because it's a clutch, I haven't carried it often (though that could certainly change if I start wearing it with jeans!) but I've probably used it an average of 10 times a year. Maybe a bit more. The leather is still soft and smooshy.
But much as I love this clutch, I can tell you (having tested it this evening) that it won't hold as much as a "regular everyday" bag. Had to swap out my full-sized wallet, which is already pretty small, to a mini-wallet, f'rinstance. And if it's sunny tomorrow and I have to toss in my sunglasses, it will be a squeeze.
Hunting for red bags is fun! Keep us posted!