This case fits the XZ-1 very well - it isn't much larger than the camera itself, which is something i was looking for. It is nicely made out of nylon with two different finishes (the lower half is matt while the upper has a sort of check pattern) and a soft felt interior lining. I like the white piping detail around the middle of the case and the flap. But my favourite feature is that the flap is fastened with magnets - i'm not at all keen on velcro, which makes getting the camera out of it's case unnoticed in a quiet environment a challenge.
My only criticism is that there isn't a belt loop on the back, or a strap. There are two very tiny strap loops (just visible above the Olympus tag in the product photo), but I don't think that these would be a very practical way to fix a strap as they are tiny! However, this doesn't bother me, as the camera and case are small enough to fit in my jacket pocket and this is how i will carry it most of the time.
Overall, i'm delighted with this case!