I have been using and developing for WebOS since the tail end of the Palm days, so I am incredibly biased in favor of the TouchPad. I absolutely love this tablet, and the Touchstone charging station is as life-changing a switch from the iPad's dock as the original Touchstone was when I tossed my iPhone in favor of a Palm Pre.
This case, on the other hand, is hand's down the weakest link in the launch-day accessories for the TouchPad. The only reason to get this case is if you are worried about scratching up the back of your TouchPad, or you tend to set the TouchPad down on surfaces that are slick enough to cause it to slide. Otherwise, the case adds a bit more bulk to the device without any significant benefits.
The whole case is constructed out of what feels like a hard rubber, with the inside lined with a soft (but not fuzzy) fabric. Aesthetically, it looks alright. The matte black with barely-distinguishable HP logo is certainly nice. I also like that the power and volume buttons do not have cut-outs, but instead have flexible extrusions in the rubber itself.
I was surprised to find that to fit the TouchPad into the case you have to physically snap it in, but since the rubber sides have a bit of give this isn't too hard. Getting it out would be a challenge, but the case supposedly allows charging on the Touchstone dock without removing it, so that theoretically isn't an issue.
In practice, however, I could not get the Touchstone to charge my TouchPad with the case on. There are some cryptic drawings on a pamphlet included with the case that seem to indicate you can only charge the TouchPad if the flap on the case is downward (and thus lying all over the table), but I was unable to get it to charge in any orientation.
And speaking of the flap, that is the absolute worst part of this case. Because it was hinged like the iPad 2's awesome Smart Cover, I was expecting it to be similarly anchored with magnets or something. This is not the case. The flap has a single strip of velcro that you can use to prop it at a couple of angles (the back also has a velcro flap), but it does not anchor to the front of the device at all. Which means that if you hold the TouchPad in any position except horizontal, the flap falls open.
For myself, the case is thus rendered useless. With the Touchstone charging fiddly or non-operational, the cheap approach of velcro for propping the thing up, and the lack of any sort of fastening for the front flap, I may as well spare myself the extra bulk and annoyance of a flap that flaps around when I move it and use the device without a case. My recommendation would be to go buy a TwelveSouth Compass stand (or one of the similar competitors) for propping your device upright, and forego a case until third parties release something more useful.