I don't do the bugout bag thing anymore because I spend so much time out and about in different vehicles, I don't see much value in it anymore. If the backpack is in a closet at home and I'm out in my work truck? If it's in my work truck and I'm in my personal truck? If it's in my personal truck and I'm in my wife's car? etc etc etc...
I carry a bag with me daily (which is a large satchel from Saddleback Leather now) though. It has replaced the idea of a BOB for me... something that carries stuff I can use to stay alive without being so overloaded that I don't have it with me when I actually need it.
Right now it has in it:
Ski mask, stocking cap, warm gloves
A Rite in the Rain pad and space pen
Fenix TK20
Busse CABS
50ft of paracord (hell, it might be 100ft... I can't remember which pack I used now)
AMK lightweight .5 first aid kit that has been gone through and reworked to fit my needs
iPod (

)
A fire kit (small waterproof plastic box with firesteel/striker and various parafin-coated tinders)
Two space blankets (one for shelter, one for blanket)
Fox emergency whistle
One of those little army can openers.
A leatherman (which finds its way out of the bag and onto counters on accident more than it should)
A granola bar or two
A nalgene of water.
During the summer the mask/hat/gloves get swapped out for a wrapped-up and waterproofed boonie and a second bottle of water.