I just received the new Side Effect in Aubergine/Wasabi.
Way back, I did order one of the original Side Effects, but returned as it didn't really suit my needs at that time. It was made of cordura, and it could be that my memory is faulty, but it seemed smaller than the current version, and also bulkier with the attached waist belt.
In contrast, this one fits my wallet, iPhone, and Kindle Paperwhite, along with other necessities. It will be useful if I just want something small to grab at work when going to lunch, and for traveling, to keep my necessities contained within my larger bag. It is very generously sized, but thin enough to fit easily into the other bags I have. I chose the purple color over something more conservative because it will be harder to lose (or to 'go walking'), and ballistic nylon because it seems more protective. The newly available wrist strap is the piece de resistance; I much prefer it over a bulkier shoulder strap.
Good job, Tom Bihn!