At first, I just got a cheap case. It was rather bulky and quite ugly. I had a look around and case looked the best (I bought it from an eBay seller, took a few weeks to arrive from abroad).
While the descriptions say leather, it clearly isn't anything like leather (which is one of the reasons I picked it). It's made from what I think is PVC and polyester. The back of the case is pretty solid and the Nexus 7 clips in pretty tightly - it required a bit of force to get out, but nothing that could damage the tablet and case.
The front is similar to Apple's smart cover, with the three segments that can be used as a stand. The inside is a lovely-feeling brushed microfibre. It has a magnet for the sleep/wake function (considering how thin the case is, it's quite impressive that you can't tell that a magnet is in there). There's no magnet or anything to keep the front cover down, so it can fall open, but I can't think of any situations where the case will be at an angle where it would fall open.
With the front open, the way it can bend makes it very comfortable for using in portrait mode. In landscape mode, it's great one way, but the opposite way the flap gets in the way. Unfortunately, this way is the "default" Android layout that many landscape-only games use (but I already had an app which fixes that).
As a stand, it doesn't feel very secure and feels like you're using the tablet on top of a sponge. That said, even in the taller stand requires a push much greater than normal tapping before it will fall over. It's far from the best stand case, but it's usable. After using it as a stand, the edge of the front cover will bend slightly upwards - a quick bend the other way solves it.
As you would expect, this also has all the required holes for the buttons, microUSB, headphones, speaker and two microphones. The gap for the buttons gives plenty of space so pressing them is easy.
I also think it looks very stylish. I think leather cases look rather old-fashioned now. This has a textured surface which gives it detail and makes it look like a professional product.
If you want a case to protect against serious drops, this probably isn't the right case. If you like the idea of a thin, light case for protection when out and about then this is a very good choice.
Finally received the case today and here's some pics and initial impression of it..
Hardshell section is very snug for the nexus 7, good fit and as can be seen the cutouts for the power button and volume buttons are accurate. The hole on the opposite side is catered for as well. The bottom fits nicely too.
Outer skin has a nice feel about it, a little grainy and textured. When you close the cover it puts the nexus 7 to sleep and activates the screen when you flip open the cover.
One gripe I have is the cover doesn't 'stick'. There's no magnet or elastic to hold the cover in place.
Otherwise I think this is a good solid case which is right for its price.