Okay folks, I got a chance to test out the mCover that I got yesterday. Initial thoughts:
1. it had a funny smell when I opened the package...kinda reminded me of Icy/Hot. While not horrible, not really the most pleasant. The smell has remained all day. A co-worker suggested I put a dryer sheet in it, so I've got that cookin' right now....let you all know if that helps any.
2. Appearance - wow! From the pictures, I wasn't sure what color blue to expect but I was very happy when I saw it in person! This is a very rich, deep royal blue. Very pretty color. The inner pocket (inside front cover - see pics below) is a lighter blue than the lining or the outside, but still very nice.
3. Construction. This isn't the greatest case in the world, but it was only $14 and it is a temp case anyway. My main beefs? The lower corner tabs don't sit flush with the side of the kindle, especially the lower right corner (again, see pics) While I didn't notice any movement when carrying it around all day, I can see this potentially being an issue. Also, I'm not really a fan of the elastic band that keeps the cover closed. I can see this wearing out, as elastic is wont to do.
Overall impression:
Great appearance, funny smell (that I hope to rectify), some minor construction issues, but all in all not a bad little case, especially for the price!
OH!! And it withstood the abuse that is my work bag, so I'm gonna go with 3.5/5 I may raise this to 4/5, depending on how my dryer sheet experiment goes...
EDIT: I forgot to mention weight!!

This cover is lightweight while still being fairly durable. Not as light as a nekkid Kindle of course, but not a huge difference! This was a concern for me because I have fairly small hands and carpal tunnel in my wrists - no problems with intermittent reading at my desk. I usually read for a few hrs solid at night and didn't have any problems last night either.