My diaper bag advise is don't buy until baby is a few weeks old. At that point you'll know what YOU need to take when going out and not what everyone tells you that you might need while out. It truly is different for every person and what they feel comfortable being with or without and how long you typically go out with the baby and how far from home you go. I have a daily bad that is just my purse (although a larger purse) and it's my "diaper bag" for my 9 month old and my 3.5 year old. It works. However, I do have a traditional diaper bag that I use if we're going to be away from home for most of the day.

I haven't seen the Miche bags in person but know the concept of them. I would just say wait and see what you want in your bag once your baby is here.

I saw them at a JBF sale, and I thought the "diaper" bag was too small.  Ditto the pp it is just their large bag.  That would not have been big enough for me.

Are you planning on going back to work?  If so a diaper bag that is also your purse may not work for you....since you'll still need a purse to take with you to work.  So while it seems good in theory, I think it may not work as well as it appears.