If you read on your lap on a chair I can recommend this stand instead of a case:
Prop 'n Go Slim - Adjustable Bed Holder & Lap Stand for iPad, iPad Air, iPad mini, Tablets and eReaders with Multi Angle Control (Black)
http://amzn.com/B007GO2OPW
I recommend this stand I bought recently on Amazon, it's very well designed, folds flattish for storage or traveling, and it holds vertically or horizontally, so it's great for reading.
http://amzn.to/1ecpUbE
How well does it work when you sit in bed or on the couch?
Wave Stand is constructed from high quality aluminum and the central arm is easily adjusted to meet your needs.
Greg:
I have the MacCase Premium Leather Folio for the Air. It's actually is designed to feel like you're holding a book. The quality of the stitching and the leather that they use is second to none. it feels like those old leather bound books at the library.
Another cool feature is that the interior is lined with this ultra suede like material that absorbs all the surrounding light so all you see is the screen, which makes it perfect for reading (and watching movies). The case doesn't distract you in any way. It feels great to sit and hold it while reading. Check it -
http://www.mac-case.com/ipad-cases-p/leather-ipad-folios.htm
I used to use Smart Cover but now it's Apple Smart Case. Border is soft as opposed to exposed edges of Smart Cover. When folded back, the lid of the case has nice soft interior which feels pleasant to hold while reading. That's my experience.
http://ozakiverse.com/products/ipad-air/ocoat-travel
Ive been using them on my ipad 3 and 4
And now i just bought a new one for my air,
For me this is the best case for ipad, nuff said.