It was exactly as it appeared and excellent quality leather

I was looking for an all-leather backpack that a could fit a 15" MacBook Pro, so this fit the bill.
I love the color and feel of the leather (I got the dark brown), and the quality is outstanding. There is plenty of room to fit all sorts of items with two main compartments. It's clear that Frye did not skimp on the back or straps of the bag, which are made of leather as well. In some cases with other brands, they try to cut costs by using fabric on the back and straps.

One other thing to note - a lot of reviews mention that the bag is counterfeit as there is no logo on the product that they received.
Frye revised the design of the bag recently to have just a small stamped logo on the bottom right. If you are purchasing the bag from Amazon directly (shipped and sold), it is indeed a genuine Frye product. I've double checked with Frye in-store and looked on their website.

Update: after 8 months of almost daily use, the bag is still holding up, no complaints! Still just as well built as the first day, maybe a bit more broken in. The leather does seem to scratch easily, but I just apply a bit of Bick4 and the scratches go away.

I love this backpack. It is made from quality leather. It is well made and appointed with brass-tone hardware such as zipper, stress point grommets, etc. The leather shoulder straps are padded making this a very comfortable backpack. I've had several friends compliment me on my new backpack.
In response to the comments regarding "an odor or smell" all I can say is: this is what leather smells like esp when packaged for awhile waiting shipment.
My advise after un-packaging is get a good leather cleaner/moisturizer and give the leather a good once or twice over to make leather softer and more pliable. I don't usually give product reviews except when product is either horrible or there is weird UN-founded comments (i.e. strange odors in this particular case).
When I purchased item it was $308.24. I'm glad I purchased another because now it is listed for $447.50. It is still worth $447.50. I hope this review is helpful.

Superior quality!

It was nice, got a compliment first day of use, the only negative is it could be a few inches taller. I just looks visually shorter than a standard backpack. I guess it could break in to look regular sized?