I too, have noticed these. I first found them last year and debated whether or not to buy one. And now I've found myself at the same place again. They have great reviews on overstock and the quality and grain of the leather looks REALLY nice for the price, although the HW looks a little cheap.
I'm thinkin about ordering a couple, one for me and one for my mom for Xmas, but I'm just not sure. There's a couple other designer bags I've found for just about 50 more than some of the Presa's, so I'm just not sure.
It'd be interesting to hear from a tPFer who has bought one and what they think of it.