My 5-Minute Solution
I meant to post these earlier, but RL prevailed. I made a simple cover for my iLiad with a leather steno pad cover purchased from Borders. Reluctant to adhere velco directly to the device, I opted for an thick elastic strap to keep it in place. I hope to locate my serger to sew it on later, but have used a velcro closure for the strap. It works fine for my current needs though. I've even dropped it from a short distance with no apparent damage.
Has anyone heard if iRex will offer a case/cover? I have cover-envy from the Sony Reader.