Oh yes, no luxury items in the check-in luggage! It's just too much of a risk.I personally would never pack a premier bag in luggage. I either carry it on as my handbag or put it in another larger bag as handbag. If in a carryon suitcase, I put it in the dust bag and stuff it with a few clothes / tee shirts rolled up inside.
I'd take a large nylon or canvas tote, like Kipling, Tumi or LC, as my personal item and put my smaller bags in it in their dust bags. Just remember, you might have to check your hand luggage if the overhead bins are full. In that sense putting your luxury bags in your personal item makes sense.