I think you all made a good point with a locking bike trunk. More than likely the contents of the bag will not be worth more than the bag itself, better to lose the contents than than the container itself.

Thanks Arcanum, I've never even thought of the obvious approach of adding aftermarket water-proofing to the fabric. I have to realize sometimes things aren't perfect out of the box, but can always be improved upon.

Thanks everyone for the replies. I will keep it and hope it lasts long enough to earn it's keep.

Cheers, Happy Thanksgiving!