Pookeysgirl, that is the exact case I ordered. I didn't know the rules about posting links to products for sale in this forum so I thought I'd play it safe
The youtube video seems to be produced by the people who sell it given the way they plug the web site. I like how they say the elastic covering the SD card slot "keeps it from falling out". The card will most definitely not fall out on it's own, I find the Kobo's SD card retention to be very good. I thought the elastic may trigger the latch to release and the card to stop reading but it has not happened to me yet. I didn't know there was a youtube video review out there already, but perhaps everybody may feel slightly better hearing about it from a second source?
Excellent point about keeping the magnet away from credit cards and such. It appears to be a neodymium magnet so I suppose it may be strong enough to damage the data on magnetic stripe cards. In our case it is not of concern but I agree it is something to be mindful of!
I should maybe have mentioned in my first post, that the front cover has developed a slight bow to it after a few weeks of use, nothing significant but it is noticeably bent in where the magnetic strap holds it closed. It now touches the Kobo in this one spot so I suspect it won't get any worse. If anybody is worried about it I could post a picture of this bend, but it is rather slight.