I bought this case for my new Kindle Touch, after the Marware case that I had bought for my first Kindle caused permanent red stains. I chose this particular case because it wasn't leather, and because it had a slot-in system for holding the Kindle, as opposed to being one of those screen surrounding affairs.
Cradle holds the Kindle tight and doesn't obscure the screen.
Nylon case is waterproof.
Microfibre interior is very soft and pleasant to hold.
Lack of a top restrainer means that the Kindle can slide out from the grips.
Lack of a handle on the back
The spine of the case is weak and makes holding the case difficult
When the case is held shut using the bungee cord there is visible deformation to the case. I'm not optimistic about the long term prospects of the case.
Overall, not a bad case, but there are better ones out there.