Saddlebags - Joseph Buegeleisen Company of Detroit (Buco)
Moto Guzzi V700, V7 Special, Ambassador, 850 GT, 850 GT California, Eldorado, and 850 California Police models
I extracted this information from AJ Huff off of the Yahoo! Loopframe_Guzzi news group. In AJ's own words:
Hi guys, I don't know anything about any other bags other than the Bucos that came with my bike. In rehabbing them (not refinished and NOT restored) I replaced the top weather stripping with some that I bought (McMaster-Carr part number 12335A411). I could not get an exact match, the new stuff is a little taller, probably better made. This makes a very tight, almost too tight seal. I'm pretty sure they are water proof from rain.