Shameless plug for Randy Rackliff's packs out of North Conway, NH (the company is called Cold Cold World: http://www.coldcoldworldpacks.com/). They are hand-built, to custom order, in New Hampshire, weigh less than name brand packs, are made of tougher material, AND will only run you about $125.
What's the secret? Simple construction, no bells and whistles and unnecessary crap like water"proof"ing. Tougher, cheaper, lighter. Not made in China by a giant corporation. The ultimate hacker pack!