My only concern with the Bags Connection / tank ring combo is if the strap breaks you're screwed for getting at your gas cap to fill up. My wife has been using an Engage tank bag on her Street Triple for a couple years now and the strap is very faded. I check it every once in awhile while off the bike. Her's uses the older style pin you pull out of the tank ring.
I liked hers so I bought a Sport tank bag thinking we could swap bags if needed but they've upgraded to a "New & Improved" security tank ring that allows you to lock the bag to bike if you wanted to. This new ring isn't compatible with the old pin style. But it's also a very complicated mechanism. I installed the bag on my Triumph Tiger 800XC and we headed out on a 4 day dual sport ride. By the end of the 2nd day I just barely got the bag released and when I got it off the mechanism would no longer slide closed. The bag spent the remainder of the trip bungee'd to the back of my wife's DR.
I took the whole thing apart when I got home, cleaned it, lubed it, put it all back together and it still wouldn't release. Looking at the mechanism it's a very and I mean very fine line between having the screws holding the plates together too tight, not allowing the mechanism to slide, or too loose, I'm talking not even finger tight to allow the plate to slide and operate properly.
I ended up using a single small washer in the middle screw and that seems to keep the plates spaced properly apart so that the bag does work OK now.
If you ride in any dusty conditions I would not recommend this tank bag system. I also carry the small allen wrench so that if it did jam on the bike, I could then unbolt the bag from the plate, then I'd have to unscrew the plate to separate it and then you'd finally be able to get the fricken bottom plate off your gas tank.
I like the tank ring idea but their older simpler system of just a pin sliding into the tank ring would be my preference.