This summer, I searched all over for a good pillow/cushion iPad stand. I tried a few, I even bought the IPEVO Cushi. While many were a step in the right direction, none of them really hit the mark as far as: being comfortable to use, holding the iPad securely even when moving around, and having a few different orientations/angles to rest the iPad on... SO, I built my own and my iPad has rarely left it since. I ended up making a few more for friends, mostly those who had kids who used their iPads all the time and were worried that their child may drop and break their iPad since the currently available holders don't really lock the iPad in... It was a huge hit with my friends AND their kids, so I'm selling them now. Professionally manufactured here in Chicago.
It's called "The CushPad". Google it, Check it out and let me know what you think!