Unlike the Targus bag, which has a zipper keeping the two sides of the bag together, the CODi bag has a pair of plastic clips, and then an additional Velcro patch, which must be undone before laying the bag out flat. The two sides of the bag are certainly held together securely for normal use, but having to unfasten both the clips and Velcro might prove complicated under the pressure of a packed airport security line.
The Phantom CT3, when not flattened out, looks much like any other 15-inch laptop shoulder bag, measuring 16.5 by 6.25 by 12.25 inches. The well-padded rear compartment includes a helpful warning/reminder, saying in large white letters, "Laptop Only...Additional screening may be required if this compartment contains anything other than a laptop." The front compartment has room for papers and files, but is not particularly deep, while a sizable outside pocket on the front face of the bag offers more room for A/C adapters, MP3 players, and other bulky items.
But, there's one big issue with any laptop case that follows the new security guidelines. The TSA says that any individual agent can still ask you to remove your laptop for any reason, and we suspect that many TSA agents will be unfamiliar with the new bag designs and your laptop will end up rolling down the belt all by itself anyway.