MacTech noted the announcement of the latest iPad2 leather case from Aranez of Australia. Folio style and made from kangaroo leather, has place for business cards. Supposedly available in late June for $200 US. Website doesn't have all links functional yet. Check the Blog tab for additional pictures. Bezel is mostly uncovered. I didn't see a stylus holder.
http://www.aranez.com/
http://www.aranez.com/