I've had this case about a month now, and I'm really pleased with it.
It's my second Targus case (I also have an equally well-made Targus Premium Click-in Case Cover Stand with Magnetic Sleep Wake Function for New iPad 3 - BlackTwill
, which is slimmer but doesn't work *quite* as well as a stand). This one is a little bulky, so if you want something ultra slim, this isn't it (take a look at the other Targus one though!).
Despite its comparative thickness, I feel that every bit of it is there doing something useful. The deep channels formed into the inside lining front cover serve both to securely hold one edge (an end or a side) of the iPad when using the case as a stand, yet the foam into which they are moulded (or cut? there's a soft lining so I can't tell) is substantial enough to make me feel the screen is really very well protected from the inevitable knocks and bumps it gets while travelling. It stands well by itself, even when put on a surface that's not quite level or jostled about a bit. The freely rotating ring joint on the back (surrounding the Apple logo you see in the picture) allows you to stand the case up with the screen in landscape or portrait orientation, which is a nice trick, and the cut out center of the joint is is a comfortable place to put my fingertips when I'm gripping the closed case on the way somewhere in a hurry. It just feels very cleverly designed, well thought out, and the materials are of a high quality.
No regrets about byuing this at all, in fact my only regret is that the case it's displaced is almost as good, and is gathering dust. I confess I didn't expect two products of such high quality from Targus. Impressed.