As an alternative, and if you don't mind the expense (I know they are pricey, but you do get what you pay for), you can choose an oberon cover. See:
http://www.oberondesign.com/shop/car...duct_list&c=83
They are absolutely gorgeous, extremely well made, sturdy and VERY well protective of your device, AND they can be folded back. I have the Red Sky Dragon for my Nook Color and the Green Avenue of Trees for my Sony PMS-700, and I have never regretted the extra expense. But...that is just IMHO.