I was riding to work this morning and a woman in an SUV rolled down her window and said "excuse me...". I thought, oh no, driver/cyclist confrontation. But the next words out of her mouth were "nice panniers". I assumed she was talking about my bike luggage and not my saddlebags. I was flattered. She knew just what to ask next - "how much?". Well ma'am, have I got a tip for you. These Nashbar Daytrekker Panniers have seen me to and from work day in and day out, in rain sun and wind for a measly $40. Sometimes you can even find them for less on sale.
They have a plastic lining and an overlapping top to keep the contents dry and two straps to put your rolled up work clothes under in the middle. I have put a split keychain ring between the straps so as to create an X-pattern to better hold down cargo. I also know two other people who use these and are quite happy with the value. Great commuter cargo, but a little small for touring or grocery shopping. Also, not a quick and handy way to dismount them and take them with you, so they are good if you want to leave them on the bike day in and day out.