Taking inspiration from
thesergeant and bumbler, I made my first frame bag and used a shock cord lacing system to attach it to the bike frame rather than using the traditional Velcro straps. I haven't taken it out for a test yet, so don't ask how well it holds up, but my first impressions of it are good.
The bag itself is the usual VX21, with 500D Cordura for the internal dividers and zipper garages and 1/8" shock cord for mounting. The shock cord is laced through a continuous length of 1" nylon webbing bar tacked every 1.25". As was pointed out in the original thread on the subject, the shock cord can be replaced in the field with spare cord, rope or Velcro straps if it ever gets worn out.
Shock cord lacing by
bigadventureguy, on Flickr