I ordered mine over the weekend, and got it Tuesday via UPS. The packaging is actually really nice. Very classy presentation.
The case is actually smaller than I imagined.
As someone else mentioned, it is not designed as a stand. The back actually folds around very nicely, for holding it like a book. Proping it up on my desk in landscape mode, my desk is a laminate type surface, and it's hot up here right now. The leather is providing enough friction that it could be used in this position for presentation, but I would be a lot more comfortable backing it up against something, rather than having it stand alone.
So, I would say it is first and formost a worry-free cover and carrier, and secondarily a stand, but if a stand is your main goal, I would think one of the dedication options would be a better/safer choice.
One side note -- the case is very well built, and the unit will not slide out (it slides in from the side nearest the binding, so that's very comforting), but it does seem to add some heft to the iPad. Not sure if its real or perceived, but the weight seems more noticeable now.
I'll post again after a week or so of use.