I use it for my daily bike commute, as well as for hiking, skiing and as day pack for traveling. It combines (almost) all of the features I'm looking for in a daypack:
Mesh ventilation keeps my back dry when riding my bike in summer. Phone, key and wallet fit in the waist strap pockets for fast reach. Rain cover keeps my stuff dry for the occasional downpour. 26l is large enough to fit in a 11" MacBook and basic climbing gear, small enough to not be bulky. CamelPak fits in to keep me hydrated when in the mountains.
The only feature I miss is being able to remove the waist straps, if I so wish. Larger backpacks, e.g. from Deuter, support this.
If I would use my backpack solely for bike commuting, I'd buy a Deuter Giga Bike [2]
[1] http://www.ospreyeurope.com/gb_en/hiking/stratos-series/stra... [2] http://www.deuter.com/US/us/bike/giga-bike-80444.html