I bought this cover as I felt the 'naked' Kindle was too vulnerable to scratches etc travelling around in my bag. This cover beefs up the Kindle without affecting its use in any way.
The case is a rugged leather, with a soft interior. A magnetic clasp holds the cover closed.
Once open the cover is precisely the size of the Kindle 3. The Kindle is held securely by 4 corner straps, the top two on elastic making removal easy without affecting the grip. The bands do not obscure the display, keypad or any of the buttons.
Once in the cover, the Kindle is fully accessible, though sometimes the locking clasp can be too close to the right side page turn buttons - though it can be straightened it tends to return to its closed shape. Holding the cover is the same as for a normal book - making it somewhat easier for me hold than the Kindle on its own.
The inside left side has a 3/4 size pouch. This may be useful for holding a single sheet of paper or so, but I cannot see any practical use for it. Due to the corner straps holding the Kindle in place, the pouch would not normally touch the screen or the keypad when the cover is closed.
When closed the combined cover and Kindle is only as thick as my thumb, and slightly smaller than A5 size - about the size of a 125 page paperback.
All in all I am quite pleased with the cover. My Kindle is held securely, safe from screen damage while dumped in my bag, and easier to find. Added to that, when I need to remove the cover it comes away easily