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As someone else said somewhere in Mac Forums, the colours of the polyurethane covers are really not as bright as Apple makes them look on the website. My orange SmartCover is a nice subdued colour, not bright neon looking. So, maybe you'd reconsider the polyurethane covers. Indeed and regardless, $29 for the poly one and $69 for the leather one are both overpriced.

As I mentioned, I have the green polyeurethane.
 
OP, what do you plan on purchasing to replace it? Are you going to just leave the iPad uncovered and stick with the skins?

Yup! Which is how I used my first iPad. It works very nicely. Less cumbersome - easy to just toss around, into a bag, etc. I just use it without a lot of fuss.
 
Do you put your iPad 2 in a slipcase before you put it in your "Man Purse"? I'm looking for an affordable (less than $20) slipcase for my iPad 2 when I put it in my purse. Oh yeah...I carry a "man purse" too but call it a purse. Gender need not be involved in a purse ;-) :)

My Timbuk2 has a separate pocket for my iPad 2, but it's nice to have some extra ding protection when you got cables, power blocks, personal WiFi device, digital camer and headphones stuffed in my Man Purse.
 
And if I need it off, it's off.

IMO, this is one of the best things about the Smart Cover. I've been looking at many other folio-style covers that convert into stands, mainly because I want some protection for the iPad against drops, while also having stand functionality. But the fact that the front covers of those folios always stay on gives me pause. I really like how I can just whip off the Smart Cover when I'm holding the iPad in portrait, and wonder if the folio covers will bother me when doing that.
 
I used the Leather smartcover since release but I sold it a few days ago.

- My toddler tended to take the case off and slightly bang it against the the ipad (metal against metal or metal against glass is not good).
- My older daughter (4) tended to not fold the leather cover back properly and I was concerned that folding the cover in half at 180 degrees might wear out the leather faster. (not really a factor in selling it very much at all but figured I would mention it)
- Afraid that if I drop the ipad on the side with the metal bar the damage to the ipad would be very bad. The bar would probably dent the ipad and that is where the sim card slot is which weakens that area a little. I thought about getting a case that works with the smartcover (marware has one coming out) but the same issue would still be there because the bar on the side would stick out further than the case and still be subject to taking the full force of the drop.

I am getting a few other cases to try:
http://www.amazon.com/gp/product/B004UDH29K
http://www.amazon.com/gp/product/B004QYUHFY (magnet alignment issues with this case but might keep it anyway... it is beautiful and hole alignment is perfect)
http://www.amazon.com/gp/product/B004VY7NII
 
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