iLounge noted issues with two popular iPad cases that are currently available. The Griffin Flexgrip doesn't line up with the iPad completely correctly. The mic and the headphone jack cutouts are poorly placed on the Flexgrip. Vaja's "Slim Retro Jacket" sleeve has an oversight, leading to a dealbreaking design flaw for some. It would be difficult to put your iPad into and take out of the $120+ sleeve without rubbing it against the multiple exposed metal magnets that hold the sleeve together while it is closed.
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http://www.ilounge.com/index.php/news/comments/apple-ipad-unboxing-and-accessory-gallery-posted/