Just picked up one for myself. It's $150 but you are getting top quality leather and craftsmanship. T. Anthony has been around forever and caters to clientele who know what excellent leather goods are without the need for branding to show it off.
http://www.tanthony.com/store/men/gifts-1/products/leather-ipad-case
( site is broken at the moment but will work soon, I'm sure )
http://www.tanthony.com/store/men/gifts-1/products/leather-ipad-case
( site is broken at the moment but will work soon, I'm sure )