Last March I used my PCE to buy the Kristin Shoulder Flap in (deliciously soft!) black leather. I like her and I use her for "dressy business occasions" and for "social events that don't require an evening bag".
Since I don't use her a great deal I was concerned that I might buy her and then discover her at the outlet at a deep discount just a few months later, but that never happened so I honestly don't regret buying her at the PCE price. (Some of the less popular - but still lovely colors showed up at the outlet - but not the black.) I honestly enjoy this bag and I feel very "chic and sophisticated" when I carry her; but there are stil a few features that I don't really care for all that much:
1) When I purchased herI was torn between this bag and the Kristin clutch (because I don't actually own a "true clutch" - I just have a couple of large wristlets). The price difference between the shoulder flap and clutch were pretty close and the SA advised me that the shoulder flap was "the better option because you can tuck the strap inside and use it as a clutch;" but that's not accurate. The bag is just a little "too big and floppy" to use effectively as a clutch.
2) Because it is floppy (but relatively small) it doesn't work well as a handbag either. If you try and carry it over your arm as a handbag it sort of "collapses in the middle" in an odd way that doesn't look all that great. This bag only works well as a shoulder bag - and that disappoints me, because I really like "versatile bags" that give you "options" and that's what I thought I was buying.
3) The latch is a bit difficult to work with because the bag folds/sags in the middle. I can appreciate a hobo or a hippie that has a "sexy slouch" but this bag is "too small and rectangular" to work well with a "semi-slouch". I have 4 Kristin items (a hobo, a large wristlet, a wallet, and this shoulder flap) and this is the only one that can be tricky to latch. It's not a big deal, just a bit annoying.
Obviously, I love the look and feel of Kristin items because I own 4 of them (I have more Kristins than any other Coach line!) but although I enjoy this shoulder flap it hasn't been as quite as "delightful" as I had hoped. My advice is to get a clutch or a hobo or a tote. Only buy the shoulder flap if you are truly looking for shoulder bag that is smaller than a hippie, a hobo, or a tote.
Below is a stock photo of my "mixed blessing"! I still love her although she has been a bit disappointing in some ways - but I still feel "very chi chi" when I carry her and she is a lovely bag! Isn't she beautiful?!
BTW, katev, I saw the Kristin Shoulder Flap in Black Leather, Black Op Art and Peach Leather at my outlet Memorial Day weekend. However, the Black Leather Shoulder Flap went like hotcakes.