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Cool thread. I'm considering doing the same with my "bag of holding" that I got from thinkgeek over a decade ago. Used through both highschool and college and the only things broken on it are the latches that keep the cover fastened. Not sure if wax would help much on all the zippers but if I can at least get the cover flap, sides, and back waterproofed it would help a ton. Also considering removing the logo from the front to make it more adult looking but idk.