I also now have both, and agree with the above. I've done several outings with the body + 70-200/2.8 IS II in a Lowepro Toploader Pro 75 AW and the 35L strapped to the side in a Lens Case 1W. The new pancake will fit in the outer pocket of the toploader, a more convenient package. Plus, unlike the 35L, it can go in a pocket for walking around, and I can switch lenses, leaving the 70-200 II hanging from the BR strap and holding the camera by the 40/2.8 by the E1 handstrap.