Just got the official cover for the Story HD, so here are a few first impressions.
Overall it's quite nice, though it looks and feels noticeably cheaper than the Kindle cover for example. But then again it's only about half the price (19€ vs. 35€). And it's really light too, only ~84g. Once you get it inside the straps (it's harder than it looks), they hold the Story quite tight and secure.
What I don't like is the cutout on the back for the power switch. It's too big, badly placed and the cut isn't even straight. Looks like someone cut it out by hand.