I love it! I have one and I find it can hold a fair amount; but it is a small bag compared to a Speedy etc... You need to know what you're carrying if you carry this bag; which can be a good things sometimes- I like to use it when I want to carry less items.
I find I can carry my:
mono zippy coin purse
mono agenda pm
damier attached cosmetic pouch
sunglasses
keys
cosmetic pouch (compact, lip gloss, kleenex, tylenol etc...)
cell phone
scarf
gum/candies etc...
Also, the open top doesn't bother me because when it sits on my shoulder it closes (when my arm hangs down on top of it). And I like to be able to get things in and out of the bag quickly too.
And I do like the structured bottom because I find it easier to find items in the bag. And there are 2 large zipper compartments on the side where I can store my wallet (a mono zippy coin pouch). It also comes with a small cosmetic case if you wanted to keep your cash and credit cards in there and carry just a change purse.
Hope this helps!