Lol. OK so here we go:
Since I typically buy Apple-branded cases, my comparison of the 10.5 KHOMO will be to the official Apple Smart Cover/case that I have for the 9.7 Pro. I've always liked the 9.7 Apple Cover/case, even though the back tends to show fingerprints and grease that is sometimes difficult to remove.
So the KHOMO case comes with practically no packaging outside a plastic bag. I suppose this is a great way to keep costs down! The fit and cutouts are very good and precise, practically as good as an Apple case. The magnet appears to strong and reliably engages the sleep/wake function. I have no problem with the finer grain/fuzz of the inside of the cover, as the OEM one often traps crumbs easily. Seems like the KHOMO might be better in this regard.
Someone mentioned earlier - the Lightning cutout is indeed different from the pic on Amazon. It's actually open near the home button. Also, the top cover can be a little bit tricky to lift/open. The Apple covers have another 1mm or so "overhang", which people without the back case despise, but it's actually useful when used with the back case. The KHOMO just needs a bit more... as such, it's easier to open via the top or bottom corners vs. the side.
Minor complaints overall, for the price I'd say it's near-perfect. You can see in the second pic that the corners aren't as tight and robust as the Apple case.