Don't call it a case. Apple announced a new case-like top for the new iPad that's called Smart Covers. It's a stand, a case, and a cleaning cloth all in one. Basically, it's a lightweight and thin flap that magnetically attaches to the front of the iPad 2. When you insert your iPad the device goes to sleep, and when you take it out the tablet automatically wakes up.
You can fold the segments into a triangle, which creates a stand in either landscape or portrait mode. The interior is made of a microfiber cloth that can help clean the screen itself, and the exterior is available in polyurethane ($39) or leather ($69), each with five color options ranging from red to green.