I've got the green iPad cover and I think it's great! I like being able to set it to different angles, and of course the lovely colour. I've found three different angles, besides standing vertical, and find they are the right angles for me to either type properly or read pages! The magnets are great because it stays on a dream, but when my one year old is going after it, I know he won't hurt it by ripping of a built on piece! That's worth lots! Slightly confused why they didn't put a back on it?! But still functions well as it lives on the bookcase, when I'm tidy, or on the couch when I'm not!
My only long term thought is the 'joints', for lack of a better word, allow dust on the screen, so I wonder if it will age the screen differently, but that really I think is getting to nit picking!