I've been doing some research to find the best case for what I'm looking for, but the options are overwhelming. There are so many knowledgeable people on this site I figured I'd just register and ask.

I'm hoping to find a black folio-style case that meets this criteria:
1) for iPad 3 and works with magnetic on/off feature
2) "borderless" when open (whole face of the iPad exposed when the case is open)
3) front cover folds flat behind the iPad in book mode
4) allows for a typing angle in landscape that is solid (doesn't bounce or slip when typing)
5) $50 or less
6) prefer a latch of some sort when closed to prevent accidental on/off activation

Here are some cases I've considered and what my concerns are based on online reviews:
1) Devicewear Ridge: no latch and reviews complain of the on/off accidentally being triggered in book mode
2) Speck FitFolio: typing mode seems a bit bouncy and I'm not sure if I'd be bothered by the lack of protection on the back
3) MoKo SlimFit: doesn't fold flat in book mode

What other suggestions do you guys have?

For your list of criteria, I'd recommend the Apple Smart Cover, except for the fact that it doesn't have a latch to hold it closed.

A screen protector DOES come with this package, HOWEVER, the screen protector provides a grainy-look to your ipod

The case also SEEMS like it may attract dust, but again, this can be fixed by simply wiping it.

The thing that will annoy most people is the fact that the headphone and charging jacks are covered, which is fine, however the slots provided to cover the charging jack can render you dock uesless (depending on your dock) because the slot takes up too much space

The case makes your ipod touch 4g look amazing and what I loved even more about it is that if applied correctly, it does not peel off your screen protector at ALL. In fact, it covers the edges and sides of the screen, basically making your screen protector even more stable and last longer. The case feels great also, the rubber-like feel of the case makes it stable in your hand and almost impossible for it to slip out if you have a firm-enough grip on it. The package even comes with a soft white-cloth to wipe your screen with, which I thought was awesome.

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Thanks，what you said just provide a great mount of details for me anyhow, typing angle always make me in trouble. seems like it is another subject about human engineering.

Check out the Targus Vuscape. It fulfills all of the criteria you listed. I've had mine since the new iPad was launched and it's held up well. It's the main case that houses my iPad.

You want the Garrison by BodyGuardz.

Upon reading the ipad case criteria that you want, I think this case is what you are looking for . I just bought one last month and I can assure you that the case is really awesome I love the fact that it is handmade and very adjustable to any angle you want. The good thing about this product is that it has a 30 day risk free trial.