I used to always wear a backpack, but I hated the sweaty back problem it gave me. So I bought
this messenger bag/pannier hybrid (in red for $60). I've had it for almost a month now and it's pretty useful. I ride to and from school 5 days a week and it hasn't broken yet or anything, except for a bungee cord on it that I snapped because I forgot to secure it to my rack. Conversion from a pannier to the messenger bag takes about a minute. I've never owned a messenger bag before but this one is definitely not uncomfortable, the hooks are hidden away nicely. Not comfortable for carrying much weight, though.