I usually don't review iPad stands, but the people from Striped Sail sent me a miFrames for iPad 2 to try out, and I found it quite clever. Unlike traditional iPad stands, the miFrame doubles as a picture frame enclosure.
Most people aren't going to buy an iPad just to use it as a digital picture frame, but those who use that feature (perhaps photo studios or graphic design offices that want to show off their work, not to mention grandmas) the miFrame is a nice choice. The frame/stand comes in black or silver precision-machined aluminum and can be positioned in portrait or landscape orientation. A five-foot USB cable runs from the base and can be plugged in to a power source, like an Apple USB charger, to keep the iPad charged. The long cable provides plenty of reach for positioning the stand just so.
The miFrame doubles as a traditional picture frame. You can slide an 8x10 printed photograph into the frame which will be displayed when you remove the iPad. That way the frame is useful when it's holding an iPad and when it's not.
One of the few drawbacks about the miFrame is that you actually have to snap the frame's border off to get the iPad in and out. It's easy to do and doesn't take too much time, but it would be nice if you could slide the iPad in without removing the frame. Also, the miFrame can't be hung on a wall, which some users might find limiting.