Like they say, it's a nice medium between day pack and school backpack. It has a padded laptop sleeve in the main compartment. Overall, it has 2 large pockets and a small waterproof pocket (the waterproof zipper might need to be replaced eventually but all you do is send it to The North Face and they'll repair it for free or close to free). The bottle pockets on both sides are deep so you don't need to worry about losing your drink while commuting or whatever. It's camelback or nalgene reservoir compatible.
I bought mine in the summer of 2006 and it was 90.00 at sport chalet. What a fucking rip-off considering now it's 50.00 at some places. The waist strap is oddly placed in that I have to wear the pack really low in order for it to sit nicely on my hips.