While the Apple Smart Cover is a cool cover, there is no protection for the back of your iPad 2. Griffin Technology released their IntelliCase brand case that provides a smart cover and a protective back in one.
Check out my full ZDNet Mobile Gadgeteer blog post for detailed thoughts on using this case from Griffin.
As you can see the IntelliCase opens up to reveal the back and front pieces. You simply snap your iPad 2 into the glossy plastic side of the case.
As you can see, the back of the case has a matte finish. The center opening is where you slide in the front flap to prop up the case in a low or high viewing position.
This picture shows the slit for the front to slide into place.
You can prop up your iPad 2 in a high position for viewing media.
Here is another view showing how the front cover works to prop up the iPad 2.
The front of the IntelliCase also has a matte finish and as you can see there are three panels that bend, compared to the four panels on the Apple Smart Cover.
There are cutouts for all openings in the IntelliCase.
There is a rather large cutout on the back lower end for the speaker and Apple port opening.
Another view of the propped up iPad 2.
IntelliCase for iPad 2 gallery 1
IntelliCase for iPad 2 gallery 2