From my search to the perfect case I found this model from Targus. On their website they do not mention that it is for the Ipad2, but an internet seller told me it can be used for the Ipad2 as well, so I took the risk.
It is a black leather case with a Burgundy inside lining.
It has a few small pockets for business cards, credit cards. Underneath you can also store some bigger sized papers.
There is a place for your stylus as well.
It comes with a small cleaning pad. That is, if you donít let your kids play with the Ipad, otherwise it will go missing relatively fast. At least the windows are clean up to 5 feet.
With its weight of 1.18lbs or 0.5kg it will double the weight of your Ipad.
The Ipad is placed in two leather holders at the bottom, which are solid. Opposite are two flexible leather holders that you fold over the Ipad. It gives a shaky impression, which could mean that it was originally designed for the Ipad first generation only, but I am not sure. Still, when I want to place the Ipad in landscape position I swing it around with confidence. It stays in place very well.
The line to position the Ipad in landscape is deep enough. Even on a non flat surface it stays in the correct position, unlike the Switcheasy, which I used before. This case does not come with a portrait mode.
You can either use the landscape mode or fold the flaps under the Ipad. It adds some thickness of course, but it is not disturbing.
The camera hole has a metal ring around it, which is not touching the back of your Ipad.
It does not have a sleep function. I solved this by taping a small magnet on the inside of the lining. In the coming days I will place it under the lining. Although it is not a permanent solution, it does the job.
One important remark is that if the Ipad is in landscape mode the hole of the headphone is slightly covered by the area that hold the Ipad in place. So, if you are using the earphones a lot and in landscape mode I think you better consider another case.
It protects the full area of the Ipad
It has a good landscape position
It has a place for the stylus
It comes with a small cleaning pad (If I ever find it again)
It has an overall good and nice finishing
It can be taken out very easy
The Ipad 2 is not really fixed and gives the impression it moves a lot
The headphone is partially covered when in landscape mode
It doubles the weight of your Ipad.
I will continue my search for the perfect case, but I think that by the time I have found it Apple will launch the Ipad2.
Below a few pictures.