I am VERY particular about my equipment. I have been eyeing the Arkel Bug and now the switchback but I dont like that they aren't waterproof.
Lately, this waterproof pannier/backpack hybrid has caught my fancy.
http://www.aquapac.net/usstore/panni...ck-2390-0.html
http://www.aquapac.net/usstore/panni...ck-2390-0.html