I also have the M-Edge platform cover for my kindle. I love it. I'm still waiting for the e-Luminator light to come out so I can get it. I get a lot of compliments on it.
I don't think the angle to prop it open is good, but I like being able to hold the kindle in either hand when I read as one arm gets tired after a while. I don't think it would be as comfortable if the flap opened to the side.
Mine's gotten scratched, but it's been my fault. I take it with me everywhere - in my purse or backpack. I'd rather it scratch and not the kindle.