This is the second edition and has a magnetic closure. It does have some marks on the bag seen in the 3rd picture. It does have a customization, I did remove the old flat straps and metal rings it came with as it was uncomfortable to wear with a winter jacket. This does come with the gunmetal o-rings and a 12" handle. This is ideal as if the straps are too long, you can purchase either rolled or flat handles from glassladderco.com. IT DOES NOT COME WITH THE ORIGINAL 10" FLAT HANDLES. More information on the bag located below: Exterior Dimensions: L 13"-14" x H 12" x W 5" Max Device Dimensions: 14" Circumference Standard Handle Drop Length: 12" Crossbody Handle Drop Length: 23" Key Leash Length: 8” Weight: 2.5 lbs // 40 oz The Medium Michelle will fit most 40oz cups and bottles! Popular brands used with this size include: Starbucks 24oz Cold Cup, BruMate 32oz, and 32/40oz HydroFlask. Will not negotiate, Pricing is fair considering this product is discontinued.