The iPad 2 Smart Cover is all kinds of genius, yes. The hidden magnets allow it to snap automatically onto the side of the device. How on earth it does that waking up when you lift just one tiny bit, I don’t know. It’s a cover, that is smart.
However, as the owner of one, I realised a pretty serious flaw. You cover the iPad, and then roll back the cover to become a stand.
Except now the surface you are using to stand on is the exact same surface that is nestled up against the screen when you fold it back. I was going to take my iPad + stand into the kitchen before I realised this wasn’t such a good idea. You might say it was a crumby idea.
It’s fine if you live in a bright white and completely sterile environment as clearly all Apple gadgets do in ad-land. In real life, the smart cover has a design issue that makes it much less useful to me.