First, the color out of the box is actually a medium brown, not the lighter saddle color on the box. Perfect for me, maight be disappointing to someone expecting light brown.
I've had it for two weeks and the aging process is working - the leather is high quality. I used a little leather conditioner on it and that did darken the leather a little, but that is a look I want.
Holds three cards securely. I am not willing to put any more than that in there. The money pocket behind the cards will keep a couple buisness cards plus an additional card. I rarely carry cash though I could without any problem. There are no magnets on the cover. But I haven't found the loose cover to be an issue with the number of cards I carry.
It took me about a half a minute to adjust to taking pictures with the flap open - again not a big deal to me. Someone else wrote in a review that it actually helped stabilize the camera a bit and I've found that to be true for me too.
From a protection standpoint, it fits snugly in the hard plastic saddle. The case itself may absorb some punishment, but it isn't in the same class as the OtterBox, Speck, and others with drop ratings. However, the leather is quality and tough. I've dropped it from about 3ft onto a hardwood floor and there was no visible damage to the case or phone.
Overall, I feel it's a very quality product that will protect my phone while the look keeps developing more and more character