I hope you enjoy your new iLiad as much as I enjoy mine!
I have the iRex deluxe leather cover and it didn't come with any velcro - at least I didn't see any in the packaging... hmm
Anyway, I'm very happy with the cover and I feel my iLiad is safe and secure inside it.
It is easy to use any features on the iLiad with the cover permanently on - except for the reset button - but I don't use that often
My iLiad has travelled safely on many flights in its non-velcro'd cover.