The only downsides would be that it really doesn't hold the nook up that well in portrait mode. The "grooves" that are supposed to support the nook should be deeper. Otherwise I like it very much - I feel that it protects the device nicely and looks professional.
The color of the product was not as expected. It indicated it was red but it was pink. My son bought it so therefore did not want a pink cover. We are sending it back. If is wasn't for the color I think it would have been a nice cover.