I'm another one in favour of back pack type hydration systems. I just tend not to drink enough water using only bottles, when I get in the groove on the road I don't like to spoil it by sitting up to drink out of a bottle.
As others have said, as well, I use it to carry a folding tire, wallet and food when I'm on the road bike.
I've got one of the smaller ones, but it's adequate, and has the type of bladder that has a large opening so it's easy to fill and clean out.
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"...perhaps the world needs a little more Canada" - Jean Chretian, 2003.