Got my diaper bag in the mail yesterday (Bumkins Keith Haring deluxe diaper bag) and it looks pretty decent. It's excellent for the sale price I managed to get. ($23) I would never pay full price for it, but then again, I think paying that much for any bag is insane. :)
The end pockets are a bit small, I don't know that I'd be able to fit the water bottles there but the front pockets are large enough that I could imagine fitting up to 4 cups there.
The inside is a decent size and I like how many pockets it has. The changing pad is rather pathetic but it doesn't take much space and will certainly do the job. It is quite a bit nicer than my old walmart diaper bag. And the strap adjusts very easily.
Different styles of the bag seem to take turns rotating down to around the low price I got for mine for. So, if you are interested, you could watch for it. Each bag style/color is priced separately.