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.