A case that had potential, but is fundamentally flawed.
I recently upgraded my 1st generation iPad to the new new iPad (4th gen), which meant I also had to buy a new cover, as my trusty Booq Folio was no longer suitable. I decided on the Belkin Storage Folio which has a low profile snap-in design, but also features a functional pocket on the front.
The case balances being low profile and functional at the same time fairly well. The snap-in corners really do hold the iPad in securely, and protect the corners from minor bumps. Thanks to this clever design, the case doesn't cover the bezel of the iPad like many other cases, and doesn't get in the way of using the device. It also helps keep the device clean, as you can wipe the entire screen without taking it out of the case. Additionally, the small pocket on the front is perfect for keeping your charging cable, cleaning cloth and stylus with the iPad at all times.
BUT, the case has some fundamental flaws. When in the typing position the case folds back on itself and the front cover slots in to a little flap to keep it secure. The problem is the case isn't rigid enough, it started to sag after about a week. It started off at a typing angle of about 30 degrees, but started to sag at the main fold and ended up at about 20-25 degrees. This is also a problem in standing position, proving tricky to get the case standing up, and making it unstable when it finally does stand. The case also doesn't support the sleep/wake function of the new iPad, but I guess this is reflected in the cheaper price.
I got fed up with the case after 2 weeks, so I went out and bought a Belkin Trifold Folio. This features the same snap-in design, but it has a much sturdier stand and it also has sleep/wake support. It doesn't have the front pocket, which is one of the reasons I originally went for the Belkin Storage Folio, but I can live without it. Overall the Belkin Storage Folio was a bit disappointing, but being priced at £15.99 on Amazon at the time of writing, it does fall in the budget case category, so perhaps I was expecting too much.
I really like the design of the Belkin iPad cases, but if you want something you can use as a stand, I would have to recommend the Trifold Folio over the Storage Folio.