The concept with the rotatable holder for the iPad is awesome. The iPad (in my case, an iPad 3) fits easily into the mount without much effort.
Setting up the iPad (edgewise and crosswise) works fine. Unfortunately, the envelope has no magnetic lock that puts the iPad in hibernation. Since it is also not surprising that you have to secure the shell with a rubber band. Who can live with it, has a very good solution.
One star deduction there from me because of the unpleasant odors of the envelope!