Alright, so that was an enlightening walk. There are definitely some things I am going to steal from other projects, especially design specifications (cost, portability, assembly time and understanding time, etc).
Some things I got from this in regards to our project was a need for a goal and testing of some of our design specs, especially for things like movement of bag and such. Another more major and pressing question of what is the ultimate purpose of our product, a couple minute bag or a day long use. In the actual designs, each were very different but brought up some interesting considerations: possible back pain, use of product by someone with large boobs, exactly how a water bottle would fit on, the general aesthetic, storage size, and front slippage.
All in all, gave me a lot of things to think about and actually gave us some ideas for things to incorporate in our own project.