FYI, I bought the white flip case and there are 4 things I don't like:
1) I'm not too sure but, from what I can tell, the S3's flip cover is made of some sort of rigid textured plasticy cardboard.
2) My flip case is white and, surprise, surprise, it gets dirty...a lot. The good news is that I've been able to clean it with a moist paper towel.
3) taking photos is very cumbersome when the flap is the the way of you holding your phone comfortably; needless to say, I've almost dropped my phone a half dozen times now.
4) It IS NOT at all like the Galaxy Note's flip cover! The GN's flip cover is actual textured plastic that not only feels more durable but, withstands dirt, water, grime, etc.
All in all, I have to admit that I'm not too happy with the flip cover personally. The only way that I would tell anyone to spend $40 on one would be if and when they make it more like the Galaxy Note's flip case. Until then, you're better of getting a Zagg or Ghost Armor screen/body protector.