Thanks for the thorough review @dkolo. I talked to the Sun Mountain designer of the 2Five and found out a few details to go along with your review. As you point out, the bag's weight does not include the various hangtags that are on the bag right out of the box and does not incude the rainhood which ships in the clothing pocket.
Regarding the points where the shoulder straps are attached to the bag, the bag does have a box X stitch at those points to make it stronger and less likely to rip out. See attached photo.
About the divider system and its geometry, golfers tend to have strong preferences on this subject. At the extremes, some love the indivudual club divider systems and some despise them with not a lot of opinions in between. One detail to look for when buying a bag is if the dividers are truly full-length all of the way to the bottom of the bag. In Sun Mountain's case, the dividers go the full length to help keep clubs from getting tangled together.
On the details of the fabric; it is lightweight and it is thin. For those who have actually touched parachute fabric; it is not that thin. The 2Five uses a 70 denier fabric comparable to the fabric used on mountaineering tents. This fabric is extremely lightweight and also durable.
Thanks again for the thorough review. The 2Five is umbelievably lightweight and a real treat to carry.