I have had this cover for half an hour, and I'm very happy with it!
It fits perfectly the new Kindle (the one without keyboard and touchscreen), and there is a little compartment on the cover where you can fit documents or money.
It has a good smell, it's not leather, but it is good! You can only smell it when your nose is close to the cover, so if you don't like the smell, you will not feel it.
The Kindle is a little bit bulkier, and I like it, because I think it is way too thin!!
The only thing I didn't like is the free light that comes with it.... It isn't too strong and it looks used... It has a few scratches and looks like a chinese product. But nonetheless, it works and now I can read in the dark!
I actually bought it for the price and for the free light, but the cover is so GREAT that I do not mind that the light is not that great. I would recommend this great cover!