I've been looking for this!
I've been looking for a casual but elegant bag that's big enough to carry a macbook air to work but can also function at a purse at other times. It needed to have a shoulder strap, handles to pull it out of the car, a place for a phone and keys,and be reasonably secure for everyday use.
This meets all the criteria. Without the laptop, the top flops over reducing it's size. I keep a wallet, gloves, make-up bag, small 3x5 notebook and occasionally a knit hat in the bottom.
Functional with a certain rustic elegance.
The only "con". The magnetic snap is not terribly secure. When the top is folded over it's more so but I wouldn't carry this traveling. Too easy to pickpocket. But for everyday use it works for me.
Did I mention I get complements when I carry it and that I love it?