I have been saving to get a suede folk in Militaire or Acier but after viewing wenrich's reveal, I am now between a seigle velo and a folk now. I am 5 feet 3" and both works pretty well for me. Can help me decide?
I was having the exact same dilemma - wanting a folk so bad, especially in seigle or beige suede. I just found a seigle velo on Bonz and decided to go for it!! I think the velo is the most versatile style with the roomy size, class Bal styling, and both the top handles and messenger strap. I still plan on getting a folk at some point, maybe in one of the s/s 11 colors.
(I did find a Acier Blue Suede folk on a European website, for about $933 US which is a good deal - PM me if you want the info!).
If you primarily want to wear your bag cross body style I suggest the folk. It has the adjustable strap and sits beautifully. If you prefer to carry your bag by the handle then go for the velo (although I personally prefer the part time).
I bought the Folk (in black leather) on a whim, and am completely in love. it's my first cross-body bag, so I can't compare it to the Velo. but it's light, easy to get in and out of, holds tons, and is just so easy to carry. what a great bag.