After a couple week wait due to backordering, my brown Marware case arrived today. The case comes packaged in a brown paper envelope, which is similar to the Amazon "no frustration" packaging, so that was a nice surprise -- and easily recycleable!
The case is very nice. The leather is soft, it's nicely padded, and the stitching is very cleanly done and even. There is an elastic band, similar to what you'd find on a Moleskine, to hold the cover shut or open and folded around back. When you fold the cover around the back of the Kindle, there is an elastic hand strap that you can slide your hand into so you don't have to actually grasp the case/Kindle while reading.
I'm glad I waited for the brown colored case, as it looks very classy with the black elastic strap. So many things are just plain black these days, so having the reserved but attractive medium-dark brown color is nice.
This case holds my new $79 Kindle 4 (non-touch) perfectly and all of the buttons and USB port are easily accessible with the Kindle strapped-in. The little bits of leather on the corner straps line-up on the Kindle just perfectly and the folding of the case doesn't have a bunch of wrinkles or anything undesirable. You can tell this was "Made for Kindle" and approved by Amazon.
Using the case makes the small Kindle easier to hold IMO. It gives you something to hold onto with both hands (open like a book) which can be less fatiguing for me at least. I spent some time with the cover folded-back using the hand strap earlier and that works nicely as well. Between the two "styles" of use, I'm sure that anyone could find a comfortable way to hold it.
Also, other than an unobtrusive Marware logo on the outside front cover, there is nothing to prevent you from installing the Kindle "backwards" so the flap is open to the right when reading, if you so desire. I'm left-handed, so I notice such things and if you're left-handed, this may be of interest.
Overall, this case is expensive, no doubt, at about 50% of the cost of the device that goes inside it. However, for that money, you do get a VERY nice product that carefully assembled of great materials that really exude class and feel wonderful in your hand. Just the fact that the stitching is nice and even and clean is one aspect that really sets this apart from the cheap cases.
I would highly recommend this case if you want a small, stylish, well-built case to provide some protection while carrying your Kindle 4 around. It's not the cheapest, but you know the whole "get what you pay for" thing...