I pre-ordered this product and received an e-mail stating that the first version had a defect, and so the release date would be pushed back.
On the new release date, I received an e-mail stating that my case had shipped (woohoo!) and that a fault was identified which meant that the cover could not hold itself shut. This meant that Poetic would be fixing this defect and that they would send me the fixed version free of charge once it was ready.
I have been using this product since then - it does the job, looks nice, and although it can be a little clunky to get at the power / volume buttons, I've had no major issue APART form the fact that it is incapable of holding itself closed.
I have now received the 'fixed' version of this case and lo and behold, the exact same issue exists. It actually seems a little worse, and is more prone to getting 'stuck' open if you use the folding front cover to create a stand for your Nexus. I will probably be switching back to the first version because at least that didn't get stuck open quite so much.
This IS a good product - it looks good, fits perfectly, and has taken every little bump and scrap without fuss. However, the fact that the magnetic closing lid is basically useless (although the 'open-to-wake' functionality does work well) because this thing will open at the slightest hint of a gravitational pull.
I wish I could give this case more stars - but if you can't rely on it staying closed until YOU open it, then you can't really rely on it to protect your Nexus screen. If you use this case, it probably helps to keep your tablet in a bag with some other stuff to make sure the cover doesn't fall open as you travel.
I can't fault Poetic for their customer service - they've kept me updated every step of the way and getting two covers for the price of one is a good deal in anyone's book - it's just a shame that the problem they aimed to fix with the second release still exists, and actually seems to have gotten worse!