I didn't want a case on my ipad all the time as I like how slim and sleek it is. And, I don't need to prop it up (which those cases also will do). Just wanted a protective sleeve to put it in when I wasn't using it (I am always careful with my electronics). That being said...
This case does the job perfectly. It's a tight fit at first, somewhat annoying to fully close. You slide it in, then have to stretch the top flap over the end of the ipad. However, it quickly loosens up just enough to be easy to close yet tight enough that your ipad wont slide out if you don't bother to pull the sleeve over.
I mainly use this case for storing it when I'm not using it at home or in the car. Its very snug so the ipad remains small and transportable. When traveling I just throw the thing in my GF's purse (hey, I guess there is a use for the "luggage" they carry around), never a problem.
While I think this case would protect the ipad from a short fall, I wouldn't feel too good about it. The padding feels decent, yet the wrong angle on a hard surface could still damage the ipad. But, as far as protection from scratches and the occasional bump, this case does the job.
If you are like me and don't want a case on your ipad all the time and are price conscious ($20 aint bad), this is a great choice. The quality is very nice and as I said it does its job perfectly. Being able to slide it in without closing it is convenient for at home and when it's fully closed I feel good about leaving it in a purse or carrying it around.