I recently got the Noreve Tradition Cover
for my Kindle 3. I love it more than any cover I've had for a Kindle, and I've had the Kindle 1 and 2.
I had an Oberon cover before I bought the Noreve, but a couple of things drove me batty. I absolutely hated the wool on the back of the front cover -- tiny pieces kept getting stuck under the edge of the screen, and it was like a magnet for the cat hair in my house. It also didn't fold back completely flat, which is how I prefer to read, and there was no way to keep the cover open when folded back. I didn't care for the bulk, and after using an M-Edge cover with the hinge for my K2, I didn't realize how much I would dislike the (IMO) ugly straps on all four corners.
The Noreve eliminates all of these problems. While the Oberon has the same level of "stiffness" throughout, the spine of the Noreve is soft, while the front and back covers are completely rigid. Therefore the case folds back completely flat, and the snap that keeps the cover closed can be reversed to hold it open. Awesome.
The leather is smooth and beautiful, and the case has no bulk. The "rails" system keeps the Kindle completely secure without any straps at all, yet it's very easy to take in and out.
Also, I wasn't particularly interested in an easel, but the Noreve has one that is held closed by a magnet, so you really don't even notice it. It's only 1/8" thick, yet it works for those times when you might want to prop the Kindle up.
The price is competitive with Oberon. I used the code "generationmp3" (I'm not sure if it's still good, but hey, worth a try) for about an $8 discount, and the cover was $75.01 with shipping to the US. I ordered a red one, which took about a month to arrive. I believe the black ones are in stock to ship.
Basically, if you want a high-end leather cover, but the Oberon isn't for you for whatever reason, have a look at Noreve. Your Kindle will be ooo la la in Francais style before you know it.
Front with the cover closed. Nice smooth, non-pebbled leather, great shade of red (there are other colors and textures available):
Bottom of the case. You can see the rails holding the K3 in place. With the case closed, you still have access to the charging port, etc.:
Side view with the easel unfolded:
Back of the case. The easel stays in place with a magnet, so it doesn't get in your way when you don't want to use it. The strap holds the case closed with a plain old snap closure, and if you want to read with the front folded back, it reverses and holds the case open.
View of the open case. The slit on the front cover is big enough for a small notebook, envelopes, whatever. The rails hold the Kindle in case firmly, yet it's easy to take the device in and out of the case.
The case open, with the cover folded back for reading. The snap on the closure reverses to hold the case open: