Apple debuted their iPad Case [$39.00 - Apple Store link] alongside the iPad itself, and had it available for sale the very same day. An elegant black folder with subtle Apple logo meant to cover your iPad like a book, let it stand like a picture frame, or prop it like a keyboard. An attempt at both form and function. Attempt being the key word.
The material is "soft touch" -- designed to make it tackier and easier to grip -- and it really does make the iPad less-likely to slip from your hands or off you lap. However, as much as it sticks to you, dirt seems to stick to it. Smudges, streaks, and light colored stains cling to the thing.
There are the usual cutouts for buttons and rockers, speakers and mics, but a curious ridge that runs along the side almost as though no trimming was done at the factory. It's obviously meant to be there but it's annoying and oughtn't be.
A small flap on the back lets you tuck the cover in to create the triangular structure needed to stand it up in picture/movie mode or raise it up in typing mode. It fits well and securely.
Steve Jobs has reportedly responded to criticism of the case with a quick "we like it", and I guess we like it too -- we just don't love it.