I'm not so sure how the e/w look like, is it the smaller one but wider?
I've got the black nylon one just as you pictured but a little longer (bigger) as it has 4.25 sections <-- don't know how to call it vs. the 3.25 illustrated in the blue tote. I guess mine is called the shopper if I'm not mistaken.
I personally go for a bigger bag. It depends on what you need to carry every day. As I don't know how big the e/w one is, I couldn't really comment on that. For me, as living in Hong Kong, I guess it's similar to NY where we'll always take subways or public transport, the funcationality of the bag is more important than how it looks. I get the nylon cos we do have heavy rain in the summer season and I don't want it to go bad.
Plus, it does hold a lot. I put A4 files, wallet, coin bag, key holder, iPod, cles for misc., cell phone, cosmetics pouch, another pouch for misc items, short umbrella, a light jacket, and an occasional book / NDS.... it's pretty stuffed up but won't be too bulky, it can still maintain the shape of the bag. If you've got round about the same thing I get... prob the one in the picture is a little small for you.
The blue that you've featured is gorgeous, but i wouldn't go for it cos i don't like the gold hardware