I'm trying to get a gauge on what folks consider a "personal item."
If you are trying to decide what you can carry on you need to check with the airline you will be taking. Each one has their own guidelines and it is their definition that counts.
Many airline websites have lists of what they consider a personal item. As Jeff said, it's best to check with them because these can vary.
A personal item is generally defined as a laptop case, purse, briefcase or similar. Be aware that when boarding a plane in Europe, many European airports (not the airlines, the airports) especially in the UK have a 1-bag restriction, period.
My "personal item" is a backpack with a small purse, make-up, I-Pod, snacks, and medication items stuffed inside.
My personal item is my civita daypack. I don't carry it in addition to my convertible carry-on, however, I pack it inside the carry-on and pull it out to put under my feet for my flight. It carries snacks, water, toiletries and a lightweight fleece.
I really like having only one item to keep track of while I'm traveling. It's less hassle and more secure. I also try to keep my load at a minimum rather than loading everything it can carry.
Civita daypack from RS. It is lightweight and holds quite a lot.
Also, EasyJet has a one bag rule, though with no weight restriction.
On the way back from Sicily (on BA), my "personal Item" was my field pack (camel pack- has built in water bladder and so on). I just drained the bladder and used it for things like my change of clothes, medicines, and so on. It made the trip back easier- it was easy to get stuff out of.
It also was great for carrying those last-minute purchases and spread the load out a bit.