I just wanted to add that people who are looking at the Smith vs. Tote... The height of the tote doesn't bother me. It's the width that makes it seem so cumbersome. (Hopefully I'll get used to it!)
So if you're looking at a Smith because it's smaller (meaning you can fold the flap down), keep in mind it's still going to be huge because the width will be so big, an inch more than the tote.
I think it also has to do with the really long straps. I like a large bag, but with the strap length, the tote just feels enormous.