Contrary to another review on here, I think this cover is great. It fit's the new Kindle 4 (without a keyboard). Yes, it's a tight fit, especially when new but then a neoprene case is going to be snug. If it wasn't, the Kindle may fall out! I've been using the sleeve for almost a month now and it's doing it's job fine. I can throw it into my bag secure in the knowledge that my Kindle will be protected. One of the things I like about the sleeve is the fact that it doesn't add much bulk or weight. Also, as it's reversible, you can have black or red.
I've only given 4 stars as a few of the stitches have come out of the stitching around the opening. I think this may be due to me being heavy handed when the sleeve was new. If you get one of these watch out for this until the case has stretched a bit.
All in all, a good product that does what it claims. Let's remember that it costs £3!