I've had my Krauser K5 set-up (side cases and topbox) since March 2002. They were originally fitted to my 2001 Transalp 650, but when I moved to the V-Strom I just changed them over (with the aid of a new fitting kit).
I've had no problems whatsoever and can highly recommend them as an alternative to the usual Givi/Kappa cases. Iíve even hosed them with a domestic Karcher pressure washer and there were no signs of leakage. Fitment was really straightforward and took about an hour. Luckily the indicators stay in their original positions, on the Transalp they had to be moved and this took longer than fitting the brackets!
The side cases donít obstruct the passengers legs and the topbox doesnít get too close to the pillion seat as some cases do, although the back cushion is made of solid rubber and is rather hard to lean against. All three cases are the same, so if you wanted to get just two you could use one as a tobox as long as the top carrier was fitted. Iíve noticed that the top case can induce a slight weave at 90-100mph in cross-winds (as does a Kappa case on a friends machine), but the side cases cause no problem. Like most luggage manufacturers, thereís a disclaimer inside the cases warning not to exceed 80mph!
All the brackets are metal and are well finished. Iíve had no rust problems yet, although I donít ride in the winter! The K-Wing mounts are really neat compared to the Givi Wing Rack and were the biggest selling point for me. The only problem I encountered was availability in the UK. I ended up buying from www.mml-motorradzubehoer.de
I've got pictures of the cases on my Transalp at http://uk.photos.yahoo.com/eastyboy2000uk
when I get the chance I'll update with pictures of the v-strom.