Just received mine, I love it, it's the nicest case I've had for anything, premium feel and fit, it's the same material as the iPad smart cover as far as I can tell, almost neoprene. The magnets are strong enough to hold it firmly closed but they don't interfere with normal operation. It's a minor (really minor) fiddle to fold into position but that's probably because it's new, you need to actually have the tab leaning on the fold for it to hold, but I suspect in time it will be able to support itself in the folded position. Currently, the resistance to the fold is marginally stronger than the magnets holding it together, if that makes sense. When the tablet's leaning on the fold, it's fine.