Yes the velcro is stuck to the back. I do not see the Iliad as a peice of art. It is a useful device for my work. Lets face it, the device is less at risk by 3 1x1 cm squares of velcro hidden on the back than being moved around on a desk, being knocked in transport, or rubbing against other items in my bag.
When the final cover for the Iliad arrives, it will probably cover the back anyhow.
I am mostly worried about the screen, not the casing. That rubber coating is rather fragile. I have a mouse covered in the same stuf (or at least it was until it rubbed off).
The cover is not ideal. I still have to be careful when carrying it, but it is better than nothing until october.
BTW i chose velcro so that I could still get to the reset button, as it seems to be the most frequenly used button on the device at the moment