Love your avatar, wannacent! Not sure I could carry my keys around my neck. I'm the sort of person that dislikes things bobbing around on my chest or in view of me when I'm moving around alot.

And Knotted, that white reflective mini-messenger bag looks cool. But orange Pork Chop is great too.

I never really thought about the dressy purse thing when I'm biking with my panniers, until I got into situations where I had to carry a purse with a dressier work outfit. If I'm not biking, I tend to carry simply a leather portfolio which doubles as my case for papers, hairbrush, etc. Then I don't need the hassle of a purse, or 2nd bag to worry about.