I am also trying to decide on a good case for the Note 5. I have used a wallet/flip case on my previous phone, the HTC One, and did not like it at all. It makes using it 1 handed very difficult. And also for those times when one of your hand is holding something or you're waiting in line and want to look at your phone real quick, it is a bit annoying to remove the cover with 1 hand. I am still considering a view cover case though, so at least that way I can see some of my screen in those situations. I do think the flip cover cases look very nice, I am just not sure if I would get annoyed by it at some point.
The way I see it, the wallet case can provide some utility since you can carry your cards and stuff with you, but opening the cover is 1 extra step everytime you need to use your phone. If you don't usually carry a lot of stuff with you and just need the bare basics when you go out.. prob wallet/cards, phone, and keys, then maybe a wallet case would be good for you. But if you already have a purse and take a lot of stuff with you, you probably keep your wallet and phone separate. Plus when if I am using the phone at home, I don't really want to feel all the cards right there the entire time and don't feel like removing the cards and putting them back in everytime I go out. I dunno.. that's just me personally. I wouldn't get the wallet but I am considering the view cover case.
More input from people who have used view covers would be appreciated!