I've been using this backpack for about a year now for my daily commute to the office, and overall I'm very happy with it. It's spacious enough to fit everything I need for a workday, well built, and clearly designed with security in mind, which was exactly what I was looking for.
The one real gripe I have is with the side pockets (e.g. for a water bottle). Whoever decided that a flimsy snap fastener/press stud alone was enough to secure them really didn't think it through — they pop open constantly and the bottle ends up loose or falling out, especially once the main compartment is already packed full. My older Pacsafe model had a snap fastener plus an elastic strap that actually held the bottle firmly in place. Not sure why that feature got dropped here, but it's a step backward.
Aside from that one annoyance, the bag has held up well after a year of daily use and I'd still recommend it. Just don't expect the side pockets to reliably hold a bottle in place once the bag is well packed.