The protection is good enough for daily commuter if you take some care not to collide with things. For professional touring i would recommend a hard case.
The outside pocket is a little too small for A4 papers (due to its circular shape) but indeed large enough for picks, capos, tuners and other gadgets. The zippers are fine and feel sturdy.
There is no problem at all carrying a heavy banjo on the back in this soft case, the straps are comfortable and the ergonomy is good.
Overall I'm very happy with the purchase.