http://www.amazon.com/gp/aw/d/B007CKLCSK
Been using this case for a few days. Really great stuff. They thought of EVERYTHING. It stands up in three ways, it can be made to stay open or closed, magnetic lock works, its got a carrying loop so you can literally carry it around with a single finger, the usefulness of the hand strap cannot be overstated, it's thick enough that you feel like you can casually toss it around without fear, feels soft and leathery, and looks great. And it's under $20, and does not look cheap in the slightest way.
I am looking for one that would let me use my iPad in either landscape or portrait. I really like the smart cover that I have, but it would be nice if I could use it for portrait.
Also, what is up with the apps that lock the screen to landscape, contrary to the smart cover's orientation. So if smart cover is such that in typing mode it has the home button on the left, these apps are oriented so that the home button is on the right.