The Sheath is #1 overall for me this year. Just like you, it took me awhile to warm up to it for some reason. When Tee did his top 10 cases and put the Sheath at 1 I was like "Are you crazy?" but then after using it for some time, I realized why he did.
As much as I warmed up to the 1st iteration, once I got my hands on the revised version, it made it that much better. The buttons are great, and even though the MagSafe is the same, it is A1 in my book.
Knowing that the MagSafe indent is still there somewhat bothers, but it isn't anything that I absolutely cannot live with. Do I think it should be evident whatsoever? No. But I do believe that most people don't notice it. It doesn't take away from the overall quality of the case IMO.
I wasn't sure I'd be a fan of this Garnet red, but it has definitely grown on me, that's for sure. I'm not sure what color I'd want to see them do next, maybe a light blue color.