I just got one of the 1392 bags today. It's the larger of the two, and is a bit smaller than the large Riv Shopsack.
It is made from a medium weight coated "cordura-type" nylon fabric -- I'd wager it is as watertight as the Riv bags. Very nicely finished -- taped and sewn seams inside, with taped edges at the top as well, so the zipper interface is finished (which it is not on the Riv bags).
The bag has long carry straps that are sewn onto the front and rear of the bag all the way down to the bottom seam, which should distribute the load well, with little chance of strap tear out (although unless you're carrying your lead collection, that's not likely to be an issue with the Riv bags either!). The front straps have 2 ~10" reflective bands on the bag, there's a loop on the front where you can clip a "see-me" blinkie, and there are velcro loops front and back to attach to a basket.
The zipper is a large coil zipper -- very beefy. The zipper brand is AP -- I do not know them -- the Riv bags use venerable YKK coil zippers in a smaller size.
I'm impressed with this bag. Well built, nicely finished. I'd rate this bag as a real bargain at the price.
Regards,
Julian Westerhout
Bloomington, IL