i have a bk belt too which i love - extremely nice..
reading it was very timely for me as i'd been considering getting a work bag, similar to the school-boy that fell apart on the couple who wrote the blog post.. - so definitely have to reconsider that...
the hardwear falling off and stitching coming undone are cringe-worthy pics and bk's response to the situation was worth posting for people to see. and it obviously humbled them in the process and will change the way they handle online customer service. Pretty embarrassing to get put on blast like that i'm sure, and cost them some sales, but hopefully good for them in the long run..
^i also have a belt that's been holding up well
supposedly leather is also really nice but i've read about complaints about the construction of their bags (e.g. this)
I've owned one of their large carryall bags for the better part of a year and have no complaints. I used it daily until a couple of months ago, have taken it on several trips and done nothing to preserve its condition (i.e. I haven't treated the leather or anything) and the bag still more or less looks new.
In fairness, though, that satchel looks more prone to wear than any of the company's carryall bags.