My iPad 2 survived this past year with just the Smart Cover on the front, and one reason is because at home I always prop my iPad on a Gibson three-wire stand so that it's not set down on a hard surface which can scratch the back. My iPad 2 looks great. So now, a year later, she is joined by her new sister, who again will spend her life being propped on the wire stand at home and being propped on something else while out-and-about, as well as having the Smart Cover over the screen. I never just set my iPad down flat on a surface unprotected, and really, that can make a difference.
Oh, and yes, when leaving the house, the iPad has the Smart Cover on her front and is slipped into the SF Bags/Waterfield Design Muzetto bag. Sometimes I'll use a large purse or a different bag, and while most of the time I've got the Smart Cover on her, maybe I'll use the RadTech suede sleeve instead for protection. When I'm tucking the iPad into my camera bag with a lot of camera gear, I usually use the InCase sleeve that has a protective fuzzy interior.
From Amazon, the Gibson three-wire stand:
At home, the iPad either goes totally naked on the Gibson stand or just has the Smart Cover on.....
The Gibson stand does fold up quite nicely to tuck into one's bag, too, when venturing out-and-about with the iPad.
When somewhere with my iPad I never set the device down flat on a surface, nor do I set my Smart Cover down on that surface, either: I look for a napkin or something else to protect my device and its Smart Cover from whatever crud might be on the table or other surface.....