If you want to use a seat post rack with panniers, you'd have to get one with lower triangles or else fashion them from a wire hanger to keep them away from your rear wheel. They are hard to secure tightly to the seatpost without a ton of rubber shims and even then, they can still be spun a bit. They're really designed for full suspension bikes and are more suited for bungieing things on top.
Use P-clips for attachment points for the legs of a regular rack for panniers on your road bike and you'll be better off.
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