This thread convinces me that if you believe what you read on this forum, you may miss out on some great product.
First, let me say that I am very critical. I see flaws in every design, and It drive my friends nut at time.
I find the Air uncomfortable to hold: cold aluminum back, sharp edges. Sure, it looks cool, but there is no denying that I prefer holding a softer warmer object.
I hated the previous SmartCase. The fit was floppy, and the lips where your hands come in contact were sharp.
But the new all leather SmartCase intrigued me enough that I ignored all the negative comments and tried it for myself.
To my complete surprise, this case is superb. It is by far the best looking, minimal, functional accessory I have come across for an iPad. I prefer holding it to using the iPad naked: the leather feels nice in contrast to a cold sharp iPad. The flap folded works well as a stand. There are reports that it is unstable, but that is true only if you have it at and incline where you don't need the triangle support to begin with, so it is a non issue for me.
Some people say shy buy a light iPad only to add weight to it in the form of a case. My answer to that is I the added weight of this case is not perceptible to me, but the increase in comfort is so significant that I can't go back to using a naked iPad.