Smart Feather is less protective, not a hard shell, and cost more, but the grippy material in the Feather is worth considering. I am assuming since Macally is a hard shell that's it's smooth to the touch.
I don't think any of these types of cases (Belkin makes a back cover too) would save your iPad if it got dropped. I was looking for something so that the back doesn't get scratched up and to stabilize the smart cover. With the back cover on I don't worry about sliding the iPad on a table. If the Feather had a magnet on the back to hold the smart cover when I flip open the smart cover completely, then feature-wise it would be perfect for me.
I was also going for slimness, almost as if I was holding a naked iPad and that it looked naked, so I went with the Frost color Feather. But I almost went with an Incase Book Jacket, it doesn't add much thickness but it does provide more protection, and the canvas ones look good too, IMO. Adding even a bit more thickness I also considered the Maroo case, their bumpers definitely add more protection. I felt the Maroo didn't look as good, plus they were having the magnet issue when I was shopping for a case.
This is my first iPad so I don't really know how I will be using it mostly: Propped up to watch videos and reading? Or would I like to hold it more for reading? If I hold it more than I think the Feather + Smart Cover is the way to go. If I want it propped up more than the Incase book jacket (or Belkin Cinema) or the Maroo. The Feather + Cover can be propped up but not as many angles. With the others you can get a spring/bounce back when typing, and that could annoy me. I am now considering getting a stand for those times I know I will do extensive typing or watching.
And I might get a better stylus.
Ok, more information than you asked for, but there it is.
