...I find that I only like using the side cover saddle bag for storage of small items that would get lost or fly out of the under seat storage area (for example the GT-Rx oil cap tool [which every V7/V9 owner should have, BTW] - which I unfortunately know by experience will not stay in the under seat tool tray when riding). ...
Hmm .. Mine has been under the seat in the little tool pouch, along with a couple of hex wrenches, since I got the bike. Along with the almost useless peg wrench for the rear shocks...