I ordered one of these for $8.50. I was hoping that it might replace the $50 Belkin that I have, but I have my doubts. The new Belkin is on my iPad right now, and really looks great. The new design with the trimmed back lip looks to be the right way to go. If this cheaper version has a larger lip, it will go back. I don't want stuff getting trapped under there during normal use. Belkin made a good call by changing it, and I haven't experienced it coming off as a couple of others have reported. It's got a very tight fit.
Some of the cheaper plastics may yellow faster over time as well, depending on how they are manufactured. Food for thought.