i bought the belkin folio case for my iriver a few days after the target price drop. i found it on ebay for $8 shipped in the US (open package, brand new). so you might want to keep an eye on ebay for similar deals. it's kind of crazy the case sells for $40 at target (or was when i bought my iriver).
the functionality of this case is really nice. you're able to prop up the ereader at a perfect angle for your reading pleasure.