This works great for several most popular rack-less systems. Here are a few photos of Giant loop Siskiyou soft panniers on this setup. Other systems are shown in the blog posts too, look it up. All posts are written in the same manner, so it should be easy to compare the fitment of different systems.
In this case, bags are positioned as far forward as possible, without interfering with a rider, sitting or standing. This greatly contributes to mass centralization and improves the handling of the bike.
Also, set up like this and with the help of Side carriers, bags are not touching the silencer. Heat shield is there just in case.
It is hard to take a decent photo, but Side carriers are supporting the rear end of the bags.
At the same time, Tie-down brackets provide perfectly placed tie-down points for lower straps.
And Top luggage rack offers smooth slots, which are angled, so upper straps can be strapped properly. We used generic tie-down straps for upper points.
One of the benefits of this setup is that it is (relatively) narrow. Much more narrow than the handlebars.
Quality of Giant loop bags is great, as always. This setup provides 70 liters of usable luggage space, wide opening of the bags and outer pockets for bottles. Also, entire top surface of the rack and rear part of the seat remains free, for additional luggage. Or extra fuel or water in Giant loop Armadillo bag.