Well, I finally made a saddle bag. Woo woo! I based the size off an old Cannondale set I have. It has a 9x6 base and it's 13 inches high, folded. Unfurled it's 21 inches high. I'm pretty happy with it. I was going for super simple...and that's what it is. 1000d Cordura shell with Top Gun liner.
I put compression straps on the sides so I can fold it up like a lunch bag. This is probably unnecessary...but it might prove to be a useful feature when carrying really long things. We'll see.I got my hooks from Jandd (www.jandd.com) for like two bucks apiece. Not bad. Most pannier makers also sell their hardware too (which is awesome). See also Ortlieb (www.ortliebusa.com), Arkel (www.arkel-od.com), and Axiom (www.axiomgear.com) for some other hooks. Pretty simple setup. I probably need to bolt the bottom strap to the frame 'cause it's a little loose otherwise. I have a metal loop on the end of the bungee cord there. (You can't see it 'cause it's behind that strap.) I found it in my junk drawer. I think it was attached to something that came out of a cereal box.
I used Masonite pegboard for the frame. It's pretty tough and not too heavy, and most importantly, easy to get. I've been looking for some super-strong corrugated plastic, but haven't had any luck. Hmm.
And I covered the bolt ends with some Velcro so they won't scratch my precious goods.
And, yes, that's a floating liner in there...sans the bolt holes. They shouldn't leak too bad, I hope.