It has been a little over a week now with the TREK INTERCHANGE PANNIERS. As I stated, I am very happy with the purchase. The ease and convenience of being able to just grab the top handle and unclip the bags and take them in with me is great. Of course, they were made to fit my rack, which helps.
I have no rain experience yet with these bags. They do come with the built-in, rubberized, pull-'em-out-and-over, waterproof coverings with an elastic-type band which to me look like they'd work fine in a pinch but would no doubt require some cleanup afterwards. But, any bag would.