I have 2 sitting here with me right now...I saw these a little bit ago and they were adorable!! My thoughts:
-the 18 size is def same small size as picotin 18, petite
-the handle drop is a little smaller than the picotin, so you can wear on the crook of your arm, but a little less room so the bag doesn't "come together", the cavity remains pretty open and exposed
-the loop closure is actually pretty cute, but since it's across (side to side) not through the handles, it's a little harder to close when the bag has a few things in it
-the base has no feet, so lighter colors will show wear down there pretty quickly I'd think
-the bag is open-open - compared to the picotin where you can just fling the padlock strap over the cavity, this is a set it down and hook it across the bag closure which requires 2 hands (and setting it down)
I'd have ordered the 23 size so that my belongings are a little more protected ...will see if I can exchange. I just WISH WISH WISH, like I have for the picotin, that there was a way to attach a strap. Even a small one!!
Hope this helps...