I've bought and tried several cases for the iPad 2. Now my search is done and I have a favorite. The Melkco Slimme Matte LC cases are superb. I prefer this to the other cases I bought (Vaja Libretto, Maroo Kumara II, STM Stehen, Rivet Folio, and Toblino 2).
What I like:
1) Very slim. The case really maintains the slim profile of the iPad 2. It feels like you are reading a magazine as opposed to a book. It is substantially slimmer than the Maroo case and the Vaja Libretto.
2) Very light. My briefcase feels a lot lighter. This is the second lightest of the cases I tried.
3) High quality leather. The matte black LC leather looks and feels excellent. It has a nice grain, contrast stitching, and a soft feel. Not as good as the Vaja leather, but definitely much better than 95% of other leather cases. Also I tried the Melkco Vintage leather cases, and found the smooth glossy finish of the vintage leather to look and feel cheap compared with the matte leather cases - so I recommend these. You can see if you compare my photos with the original poster.
4) Stable in stand position. Unlike the Apple smartcover, this one is pretty stable in the stand position. I have no worries about using it on a plane in turbulence. I was originally concerned about this, but they have got the angle right. It is very stable.
5) Good seller on Amazon. I returned the vintage blue leather case and got the matte black case, and the seller was very supportive and helpful. They also have a fair return policy as far as I can tell.
What could be better:
1) Interior lining is not as good as the Vaja or Maroo linings. The lining is a little short of what I would expect on a $100 case. The lining is soft and more plush than the cheap felt linings on most $40 cases, but it is not suede like. I also don't like the orange color.
2) More color choices on Amazon. I really wanted the matte dark blue leather but he doesn't stock it.
3) Occasional magnet issue. If the cover is folded back and wiggled around it can switch off the screen. This is not an issue if you fold it back and hold it firm, only if you move the cover around. Vaja has the same issue. I find it tolerable.
Pictures