Just got my Octavo in the mail and it has definitely exceeded my expectations. First of all, I was expecting it to be heavier and it is super light. It does not add much bulk at all to the slim iPad.
Came in a nice box with some well printed documentation and wrapping. It even has a great "new car" type smell.

It came with a little piece of rubber (see small plastic baggie in the pics) where you could add extra tension if you want but it does not need any out of the box.
The corners are perfectly sanded. The inside lid corners (many were commenting about the liner fold) are actually less noticeable in real life than in photos. The are basically flat and even.
The iPad fits very well into the setting and after several aggressive shake tests I can confirm that it will not fall out. The bookmark may not even be needed given the tapering of the iPad. But once inside the setting, the top of the iPad is nice and flush with the top of the wood.
The smart cover works as designed turning the ipad on and off.
No issue with the case standing in landscape mode. When the cover is folded all the way back, there is not much of a typing angle since the cover is designed to not have a huge gap. So if coming from an Apple Smart Cover and you like the 30 degree angle, these kinds of cases could be an issue.
The cutouts for the control are pretty good and the sleep button at the top is probably the toughest to get to but more so due to the tapering of the iPad rather than a case issue. But I have no issue reaching any of the other controls or headphone jack.
Sorry my camera isn't that great and had to use lamp light since it is already dark in my apartment. If anyone has any questions let me know.
But I am really happy with the Octavo so far and will update as I use it more and it gets a little more wear and tear.