For the price, it is an excellent cover. It fits the K3 exactly and will not let it fall out, even through the open flap at the top. But that's how you get the kindle in anyway.
1) Holds the K3 perfectly (as mentioned above)
2) The price was decent
3) Makes me feel as if I am holding a 'real' book open
4) I never have to touch my K3. I am only touching the buttons to turn the page & to type.
5) Does not obstruct the function of the kindle. I can still plug it into my computer, plug in my head phones, have it read out loud, etc. without it being muffled by the case or without removing it from the case.
1) It is thin leather and I would not feel comfortable throwing it around in a bag with my keys and wallet, but that's just me.
2)The magnet is not terribly strong, but I have a feeling that it if it were, it might interfere with the K3's internal wiring & battery as other faulty cases have.
The pros outweigh the cons for me. I am happy with my new case for my K3.