Another thing about the locks - they don't really provide any security at all! The bags are mounted on arms that can be removed quickly and without any special tool - a coin could pull off the part of the rack the box is mounted to. Further, the locks themselves only have pins on one side - you can open ANY factory vstrom baggage lock using a small piece of metal because all you have to do is push down all the pins and it opens.
I found out how to pick the locks on mine because I had to deal with the fact that both of my g*damn keys broke and nobody could make a copy (not that it matters) because the locks were so hard to move when I first got the bike. Lubing the crap out of it worked wonders but I didn't figure that out until I broke the first key and fatigued the second.
At this point, I've taken off all my locks, removed the lock pins, and reinstalled the cylinders so I can make sure the boxes are secured to the bars and have the lids tight, and just to make others think they're locked. In reality, I can use my thumb to twist the cylinder open and 'unlock' my boxes.
As for the boxes themselves, I was assured they're waterproof - I talked with the dealer and asked about the waterproofness when I was first considering what bike to buy, the quality of the luggage was important to the decision on the purchase. Anyway, turns out they're not really that waterproof. I lost a laptop because of this in one box - macbook air down the drain, and water damage is not covered under warranty. I could have bought a good set of luggage for the price of that thing!