I, more or less, finished the bag last night, including the eyelets. However, I've not bound off yet, as I am not particularly happy with how the eyelets look. I'm seriously considering frogging back to the beginning of the last color change and re-doing the eyelets.
While I debate that quandry, I started making a 2-color icord for the bag closure. While knitting icord is fairly simple, it's also rather boring. I'm highly tempted to go down to JoAnn's and buy one of those little icord making machines...as I need about 2 icords about 8 inches long.