Bummer!
I love my SwitchEasy Canvas for the iPad 2 and was looking forward to getting a newer version of the case for my iPad 3. However, if this is the new design, then in my opinion, they have taken a step backwards. Personally, i was fine with the clasp after having bent it just a bit. The step backwards in my opinion is that the iPad 2 version has a fold in the front cover that this new one does not seem to have that allows for even more configurations. In fact, I use it currently in a way that they don't even advertise (someone on the original forum from last year had posted a picture and it worked perfectly) and it is awesome. I'll still keep an eye out on this one, and I will still consider it if the new design allows for a large number of angles. It looks like it may support a large number of angles and if so, I'll still consider it. I do love the company as their support and replacement policies couldn't be any better.
They did reply to an email I had sent saying there would be some new designs coming exclusive to the iPad 3 in addition to updates to the current line up.