I've had this case for a few months now, and I can say I'm pretty happy with it considering the price (bought with Amazon gift cards).
This case looks and feels really sleek. From afar, it looks like any other leather notebook...unless of course, you see the rear camera hole or the side buttons. I really like the fact that there is no awkward rectangular cutout on the back of the case for the iPad speaker. So if you want to make your iPad look professional or attract less attention, this is a big plus.
One thing I noticed was the hole for the front camera. In one of the product pictures, the hole is cut out in a similar manner as the one for the home button. The unit I received has a circular hole punched out. Not a big deal though.
The build quality is alright, but not the greatest. The material that holds the iPad in place sags and stretches over time. I had to place some rubber spacers on the inside of the sleeve to keep the iPad positioned correctly since the cameras become misaligned with the holes. If you prop the iPad up in portrait mode using the case's stand mechanism, you'll find that the iPad sags a lot out of the sleeve, particularly on the side where you insert the iPad. Perhaps a bit of velcro will solve this problem, but I haven't decided on what the best solution for this sagging problem is.
As for protection, it does its job for protecting the screen and back. The corners, however, are left relatively exposed. My iPad was dropped from about 1 meter height, and it landed on one of the corners. Since there was a bit of protection, the slight dent was minor.
The screen protector that came with this case is pretty standard. Not sure if I just got lucky or not, but the installation was really easy to do (I usually mess up my phone screen protector installations). My hands are oily, so the protector is as much of a fingerprint magnet as the screen's glass itself. Overall, it does a decent job.
Overall aside from some of the issues described, this is a good case for $25.