Like the idea of the wallet - but not the faux book
I have been looking for a wallet case that I could live with - have not yet found it. But given the ubiquity of both (and prior to any real progress on NFC obviating the need for a wallet) I totally get the idea of combining the phone and wallet.
But, what I cannot fathom is taking something as modern and beautiful as an iPhone, one of the finest products ever made (really) and wrapping it in a faux antiquted book cover. Talk about mixing aesthetics. I am sure Jony Ive is appaled by this.
Then again, Mr Forstall et al have forced us to live with similarly garish features in iOS itself - like that hideous game center, and those tacky leather notepad themes etc. But that will soon be fixed...
If these guys offered a wallet with the same dimensions and capabilities but in a simple, understated and current style, that wasn't pretending to be something it's not, I would order it.