I've just bought a T1 a couple of days ago and given my 350 to my wife so have been reading this thread with interest! I have a Tuff Luv for the 350 (they don't have it on their website anymore but it looks like the "sleek" model they have for the T1 (
here) and it has served me well, so I'm thinking of the "sleek" for the T1. Its cheap, is man made but feels like soft leather and has a fold out strap at the back for use as a stand - although I tend to slip my fingers under the strap while holding (the 350) 1 handed. They have an elastic hoop on the T1 version on the side for the stylus (not ideal, in my eyes). It doesn't feel "cheap".
And then I saw the Gecko, which looks great. Especially in "wine red" (the tuff luv is only in black). My T1 is black but red and black go together... Off on holiday today so too late to do much about it now - I'll decide while I'm away! The T1 will have to sit in a spare 7" tablet softcase for now.