I received this cover 2 days ago from Amazon. It was advertized as an 'AYL 100% premium leather cover', but it is actually a Yoobao 3 in 1 cover sold by DK Young Life. The cost was $39.50. I am extremely pleased with this cover. I purchased the red one and the color is very rich looking as is the look and feel of the leather itself. The cut outs fit the iPad2 perfectly and it does not add too much extra weight.
The iPad turns on when the cover is opened and off when it closes. I can fold the cover completely back like a book or fold it into 2 different stand positions and read in landscape or fold it back and stand upright for portrait position. This cover along with my Ivisor AG screen protector, makes using my iPad so much better. I love this cover.