Update also in original post...
I received the KA1 reader today and it fits in the case PERFECTLY!!!
The elastics do not cover the reading area nor does it cover the light sensor. The elastics are nice and firm holding it securely but flexible enough to easily slide my finger behind to reach the power button. I'm 100% thrilled with it. Now to order more styles so I can dress my kobo seasonally

cause at this price (only $27 use) why not?