I use this:
http://www.amazon.com/Louis-Garneau-...d_sim_sbs_sg_3
The flap seems nice...easy to dig stuff out while rolling. I normally stash GU's or fig newtons in there if I'm on a self supported ride over 5 hours, otherwise it's off the bike. Also has a built in weather cover in case it starts raining, but I've not had to use it yet.
I like that too and use one. Problem is it won't hold most current smart phone due to shape of bend at back which is it's nifty feature (looks good on bike).
I also have Serfas small size stem bag with magnetic clip for longer rides... can put phone (galaxy S2 fits perfect), key, few bars, and couple of gels.... medium one they have is way too large.