I've got a Rivendell Little Joe Bag for every day, and a Carradice Camper longflap for big loads. The Carradice smelled pretty strong when I first got it, but that went away. The Little Joe didn't smell like anything in particular. I don't know that either smells particularly bad when wet, just normal wet canvas kind of thing, but I admit that I'm not very sensitive to these things.

The quality is fine on both brands, but I think the extra cost on the Baggins bags is more for style than functionality. By the way, I bought my Carradice from Rivendell, years ago, when they still sold them as well as their own.