After disposing out our 1st-generation iPad, we got our iPad 2 last week. Along with iPad 2, we also got Apple's Smart Cover (Polyurethane - Grey) and Gecko's Screen Guard (Clear).
I went to a few stores in Sydney CBD and found no backcover that works with Apple's Smart Cover. So I went DIY and got XtremeMac's Tuffwrap Shine backcover. With steel ruler and fine cutter, I modified the backcover. Now, our iPad 2 is well protected:
Modification only took around 10 minutes as XtremeMac's Tuffwrap Shine is made of soft material. It could be a different story and tools with XtremeMac’s Microshield as material is made of hard plastic.