My Alano arrived today, and overall I'm extremely impressed. Works perfectly as a stand, quality of workmanship is extremely high, and as others have said, it smells great. Very good in the hands too. I mainly use my iPad freehand rather than on a surface, and usually hold it portrait style. The Alano adds minimal weight, and the asymmetry created by the spine is no different to the feeling of a thick magazine folded back on itself. The case also feels great when I hold the iPad freehand in landscape, spine down. It provides a very comfortable grip.
The only thing I don't care for about the design is the height of the bamboo frame. I wish it was a tiny bit higher so that the iPad screen didn't 'bubble' out of it. I can see why the designers shaped the frame the way they did because it's so aesthetically pleasing, but I'd prefer the screen to be slightly recessed, just so I don't feel the cover is touching it when it's closed. I don't think the cover is going to scratch it; it's just a preference.
Corners grips are invisible when the iPad is in place, and they're not going anywhere. Neither is the iPad. No point in rehashing this point as every reviewer has already covered it. The way the frame holds the iPad is utterly flawless.
Typing mode feels great too. The angle isn't as extreme as some cases, but it's perfectly sufficient for my needs when I want to write on the iPad. And there will be no issue with the spine's creases causing instability in the future. It would be impossible to break in the leather with enough tenacity to compromise the spine as a typing stand. The leather is too thick to allow this, and the spine hinge is scored too precisely. It'll do just what you want, and nothing that you don't.
One thing I appreciated which I haven't seen mentioned that often is how tough the leather feels. It encourages you to tame it, to break it in. When I folded back the spine for the first time, it resisted a bit. Per the instructions that come with the case, I encouraged the crease to do its thing by running my thumb and forefinger down it, which immediately relaxed the leather and made it more pliable. The case really lets you train it to your tastes, and I love that. I was worried I'd be prissy with it because it was expensive and leather, but not at all - it's a workhorse that primarily exists to protect your iPad and enhance the experience of using it. Looking fantastic is a byproduct. I'm not at all worried about the construction. Every aspect of the design feels rock solid.
The other thing few people discuss are the speaker channels. Portenzo's claims are true: they do seem to add a bit of bass, and they channel the sound extremely well. The iPad's one little speaker has the interesting effect of somehow spreading the sound out so that it doesn't sound like it's obviously coming from one very specific corner, and this effect is maintained in the case; albeit with a subtly different sound that I don't consider better or worse. None of the iPad's ports or switches, including the speakers and headphone jack, are hampered by the case in any way.
To conclude, it's a fantastic case. I'm glad I opted for it over the regular Portenzo, which I don't think would have met my particular needs quite as well. Anyone on the fence about which Portenzo case to get, be sure to ask questions and make an informed decision. The Alano won't be worth the extra cost to everyone, but it certainly was to me.