I chose the F4 terminator. it doubles as a bit of a bug out bag, but i primarily use it for short hikes (under 5 miles) into the back country for multi day fishing and hunting trips.
I didn't need or want the cost, bulk, or weight of the scabard. it has the zippered sleave for it, so you can buy the scabbard later, or use the existing pocket for storage. a frying pan slips right in. i've only had it for 4 months and used it twice, 1 fruitless 3 day cougar hunt, and a 2 day fishing trip. on both trips i packed food, clothing, tent, hatchet, sleeping bag, binos, 2 gallons of water, first aid kit, a rifle and a pistol and ammo for both, none of wich was speciality lightweight hiking gear.
both trips i would guess i was nearing max weight, and had room left over. this thing swallows gear, especially with the use of outboard storage. it would be very possible to over pack it. that being said, i guarentee everyone loadout will be different and having that extra room to carry bulkier items is a plus.
pack was very comfy, even fully weighted over varied terain. eberlestock has a youtube channel and a video posted regarding the adjustment of the internal aluminum stays and adjustable harness. watch it. very important to get the most comfort and cargo capacity out of it.