Mine arrived on Friday and been sporting it since then. I left a review on Amazon but I'm afraid my review has taken a slight step down.
Bottom line...this is a GREAT caser if you are looking for low profile, good quality and well fitted (mostly). All of the controls are accessible, the cut outs are smooth and conforming and all ports work as expected.
BUT (you saw that coming didn't you?)...I went back and read some reviews that came in around the same time as mine and at least 2 (maybe 3) posters commented about the magnets not being strong enough. This is apparently the 2nd revision of this product. The first revision the magnets were too strong and would put the iPad in sleep mode when the cover was folded back over itself. So I guess to fix that they used weaker magnets. Problem is, now the sleep function isn't as reliable. I might not have even noticed it except one of the reviewers posted a hit to the battery and this is a BIG deal to me. I'm ALL about the battery. So yesterday I was keeping an eye on it and I'm afraid the posters are right. The magnet connection is slight enough that even a small shift in the cover back towards the spine can cause the disconnect and reconnect. It doesn't "stick" well enough to withstand slight pressure. I'm not sure if this is making sense.
With the iPad just laying on a desk closed it's fine. But if you are putting this in a large bag, briefcase, purse, etc., you are going to have issues with the smart function turning on and off.
Then last night I charged it up. I had the iPad propped against the wall (on the floor) and this morning when I picked it up the screen was already on (dimmed), and while it was charged at 100% I was not greeted by my lock screen which is set to turn on after one hour of inactivity. This means (I believe) my iPad stayed turned on all night long which does not make me a happy camper.
So I don't know what to say about this cover. It's almost perfect save for this magnet issue. If the smart function isn't critical to you then you can always turn the functionality off in the system settings but the smart sleep functionality is WHY I bought this case over some others. So for me that's not really an answer.
From what I can tell the Amazon front company (distributor I guess) has been responsive so I plan to contact them to see what they have to say about it. I don't know what the answer is. I guess this case would need stronger magnets to function thought the leather, but then stronger magnets mean when folded back while in use it could put the iPad to sleep.
ETA: I wanted to clarify about the (mostly) conforming fit. I believe the tight fit may be partially why the magnet issue exists. I can see where my iPad, if a smidgen tighter to the right in the case, might work better with the sleep functionality. I've been trying to be patient and break the case in so all is not necessarily lost with this case. However my gut says stronger magnets really are needed, yet if they are used then you have sleep issues while the case is open.