I feel I should start this review by pointing out that the first 2 and the last pictures for this item are incorrect, the 3rd and 4th are the only ones of this actually item.
The inside looks like the first picture, without the paper holding part in the lid and with nice white stitching instead of black. It also (thankfully) has the full face covering you seem from the first picture, as in it doesn't hold the kindle with 4 elastic straps at the corners (which i hate).
Apart from the misleading photos, this is a brilliant little case. The leather has a very nice feel (and smell for that matter) and the white stitch effect really does add some charm and character to the thing. The kindle fits in very well and you would have to turn it upside down and shake it very violently in order to dislodge it. The front and back of the case are lightly padded and are very comfortable to hold. The leather hinge is very supple and easily folds back on itself. The magnetic clasp thing does its job well enough.
The only issue I have with this, is that I am constantly picking the thing up, upside down. This is due to the fact that the clasp fastens round the back, not the front as with nearly anything else held closed with a magnetic clasp. But as I pointed out earlier, this will have no effect on the kindle what so ever, its just makes me feel abit silly.
Of course the biggest selling point for this case is the price. Including postage mine cost me £7.97, which considering the price of so many other kindle cases is just silly. Coupled with the fact that this is made of real, good quality leather and looks and feels very professionally made - well i think this really is a no brainer.