This is a good case for what you pay for, (I paid $5). I really do not think it constitutes a $49.99 MSRP/List price. I think that's the manufacturer just trying to get more people to buy by making them think it's a stellar deal. The case I got was 100% red, not red with black interior. The hand strap is on the front flap of the case so when you open the case you can bend the flap to the back of the case and slide your hand in the strap so you will not accidentally drop your Kindle Fire. The strap is a snug fit for my hand and the case holds the Kindle Fire superbly to where I could swing the Fire around in the case by the hand strap and the Kindle Fire not fall out.
The multi-angle stand is 2 slots in the interior, both are typical, what you would expect angles. It is a bit difficult to undersand how to use this feature though, first you have to dislodge your Fire from half of the flips that secure it to the case then bend the back of the case so the Fire fits into one of the groves.