+ Looks elegant
+ Elastic band holds it together and reminiscent of Moleskine calendar :-)
+ All the buttons / cameras are available
+ Good workmanship
+ Ipad is also protected by a tab on the side of the flap
+ Can be set up (facilitates typing)
+ Great service
+ Price
0 Home Button recess could be even larger
0 color of the inner life could be more beautiful (is gray)
- Stinks (goes by but after a few days and it's not sooooo bad)
- No magnet that triggers the Sleep / Wake-up function (to include there the rubber band)
So for me it was a real alternative. I would further lacking any good conscience. I do not think that you really need these different holding grooves, as can be found in other cases in the lid. But everyone needs to think about how and where he uses his iPad2 itself.
Sometimes a Sleeve ranges namely well and one has more the beautiful design of the iPad :-)
PS: googling to the protective sheath. On the Internet there is a great video to!