A flurry of iPad stands and cases have been hastily released following the debut of the iPad. Some are okay others are just disappointing. I don't like plastic, silicone or leather "framing" my iPad (nor do I like it on my iPhone). By this, I refer to any material overhanging onto the glass screen in order to hold the device in the case. Macally got this BookCase right - there is a plastic back the size of the iPad with small rounded corners that are made to just clip onto the SIDES of the iPad, not wrapped around the face. The plastic is covered with a suede-like material resulting in a nice soft touch. The interior of the case is another nice, soft material. The whole thing is pleasant to touch and hold.
When closed, it's like a notebook, the case covers the iPad except for the aluminum edges. You can open it and fold the cover back on itself so that it's flat. The little leathetette flap sticks out but I haven't found this to be in the way. You can also fold the cover in the middle where it is scored and tuck the flap into it's matching holder. That way, you have a secure, slanted stand that it is comfortable for typing. Folded that way also allows you to stand it up on edge for displaying slideshows.
I bought the gray version as the black one was not yet available at the time. Since it is fabric (or similar), it looks like it might get dirty over time as the iPad is something that is in very frequent use, but so far, I really, really like this case/stand.