Smartcover is overpriced and half-baked idea at best..I guess if you have invisible shield front and back that would be decent enough. Couple of things about the smart "cover". It picks up all sorts of dirt and dust when you have it folded propping up, then you close and grind all that crap into your screen. Also, it's very cumbersome to get it folded out into the triangle, this takes some practice. Lastly, I always feel like it is going to disconnect being a magnet, regardless of how well it secures to the side.
About the coolest aspect of this is the wake/sleep function, which is also magnet induced. I would say ANY cover you get should have magnet to make this feature work.
To me, there are better choices out there, and the leather version is overpriced. Just my two cents.