I decided against a hard cover that you open like a book. The biggest thing I love about the kindle (even though I don't have it yet) is that it will be light and compact. No more big bulky books... So my kindle will be naked. However I did want to place it in something while I was not using it or travelling... So because I am frugal as can be I decided to make my own. It's crochet and has two cats on the front and two at the back. I used a cut out cardboard (with correct measurements) model of the kindle, pictured below. I will place light plastic or maybe cardboard inserts and then line it with pink felt once my kindle finally arrives.
Here it is:

Sleepless in Ontario (until I get my kindle)
Sylvie