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It'll fold completely back around the case which I like alot.

You can even fold it in half and then back around and that makes it a little easier to grip with one hand.
 
Absolutely and then you can hold the cover itself in half so it doesnt dangle around. It makes it nice to hold, almost acts like a grip when in portrait mode.
 
question re: Smart cover

The only way i can use Smart cover is horizontally....anyway to use it to prop up vertically so SKYPE cmaera angle is better?
 
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