Do these look like good Panniers (http://www.jensonusa.com/store/product/BA401A27-Axiom+Seymour+Panniers.aspx), and has anybody had experience with them? Also how much can I expect to hold with them? Thanks.

Well, i'm surprised JensonUSA doesn't have the volume listed on their website: 27.85 litres.

I don't have any personal experience with Axiom's panniers, but I won't personally purchase their products anymore after having nothing but bad experiences with their racks. Personal experiences though!

The hook visible in the photo looks like the same hooks my panniers have. I had to rig up a retainer for each hook (a rubberband cut from an old innertube) to keep my panniers from bouncing off the rack.

I can't spend more than $40 so I guess these will have to do. Also I'm good at tweaking things to work better.

Axiom does make many good products and has a lifetime guarentee on them. The Seymour Pannier is however probably the worst bag they make. Very cheap and basic constuction. The material is no where near the quality of many of there other bags. They make one called the Kootenay, which I have, and it is great. Around a $100 though.

Hook and elastic mounts are not ideal.
Is there any stiffening across the top edge: loaded panniers have a tendancy to sag and bend unless there is some pretty strong reinforcement.
The straps have little excess length so overloading the top will be difficult. Overloading is really usweful when you have an 8-pack of toilet tissue or a couple of loaves of bread to shift.

I'll see if I can afford the kootenay or I'll get the one I linked to.

You might be able to pick up some Axiom panniers on eBay. Last week I bought a pair of Axiom LaSalles (40L) for $69 + 9 shipping and I see a pair of Axiom Champlains (65 litres) for the same price but which might be biggish for you... http://cgi.ebay.com/Axiom-Champlain-Rear-Panniers-3667-cubic-in-NEW_W0QQitemZ300173248449QQihZ020QQcategoryZ56198QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

I see a number of different panniers listed on eBay actually and you might want to figure out which one suits you best. Check out the Axiom pannier page http://www.axiomgear.com/product/bags/pannier_bags/

Here's one - Axiom Kootnay http://cgi.ebay.com/Axiom-Kootenay-Bicycle-Panniers-30L-Pair-Grey-Black-NEW_W0QQitemZ260183511952QQihZ016QQcategoryZ56198QQrdZ1QQssPageNameZWD1VQQcmdZViewItem

or the same Champlains I bought
http://cgi.ebay.com/Axiom-Panniers_W0QQitemZ260056728884QQihZ016QQcategoryZ62131QQrdZ1QQssPageNameZWD1VQQcmdZViewItem