I have both the cortech mini magnetic tank bag (love it and it fits great) and their saddle bags (fit with a little adjusting) and have used both on my Phantom... I even bought the matching Tail Bag that clips to the saddle bags, and find it great for longer and shopping trips... I ended up buying a set of the Honda saddle bags as I found the cortech ones just too big for everyday riding / errands, and kept the cortech for trips out of town...
Don't forget to grab your tank bag and take it along whenever you leave the bike, or some Thai will do it for you...
Pianoman