The iPad is slippery to hold onto by itself - definitely needs a case or holder of some kind and basic protection for the apparently fragile screen. This has good padding, front and back, although I don't know if I would fling it across the room to test it. I think a device would survive a drop of a few feet in this.
Mine has a double set of elastics at the top to accommodate e-readers larger than the iPad. That makes the case about 1 1/2" bigger than it needs to be for the iPad
The online image shows another set of corner elastics at the bottom, but mine actually has fabric corner pockets instead. I think this is better than elastics at the bottom, which would probably stretch with time from the weight of the device.
It says in the online description and on the actual packaging that you can "read comfortably with a fold back front cover." This doesn't mean you can fold it back and use it as a "stand." If the case is opened with the front and back covers at a 90 degree angle, and you stand the case up vertically, I suppose it would stay put until the cat came along and knocked it over with a head-butt.
There is no access to ports, jacks or buttons when the case is zipped closed. If you leave the "top" of the case unzipped, you can access the headphone jack. Also, there are no interior or exterior pockets to carry accessories. You could probably fit in a set of earbuds in the extra space left above an iPad, but otherwise, this isn't really meant to carry anything but the iPad/e-reader.
The exterior is stylish, in my opinion; faux leather but it's decent looking.
I got this at my local Staples where it was about 1/6 less than online.