I ordered a Bellroy case at launch and it came with a cutout for the action button. Bellroy later sent an e-mail saying that they would provide a tab to use in the cutout or would provide a new case with the button covered at no charge. I chose to get a new case with the button covered and that was mailed to me about a week ago. The cases they are selling currently come with the action button covered and not just a cutout. It's a nice case and very similar to the old Apple leather cases.
I have the Black and Blue case, I also have the Black and Blue wallets, I usually contrast between the 2 colors (case and wallet). I just ordered the Taupe case, I’ll most likely order the Taupe wallet. Eventually I’ll just get all the colors and mix and match.