iBackFlip has been making the popular and versatile Somersault iPad case for quite a while, and earlier this summer announced the TabKeeper 360 (US$54.95). The TabKeeper 360 (above) is now available on the iBackFlip website, and if anything, it's even more of a multi-tasker than the Somersault.
The TabKeeper 360 works as a carry case (with comfortable handles), a messenger bag, or a backpack, and even folds over to work as an iPad stand for typing. One thing that has always been a hallmark of the Somersault is the ability to hold an iPad hands-free by flipping the case open while it's strapped onto your body, and the TabKeeper 360 has that same useful capability.
The company developed and patented a way of holding a tablet in most popular sizes that's called the X-Grip, which adjusts quickly between an iPad mini and regular-sized iPad. If you have both varieties of iPad, you might only need to buy one TabKeeper 360 for both devices (provided you only carry one at a time).
iBackFlip has also been having a summer sale on the Somersault, which provides a bit more carrying capacity than the TabKeeper. At this time, you can buy the Somersault for just $64.95 ($25 off the usual price) or the Somersault Slim at $59.95 ($20 off regular price).
TUAW will have a full review of the TabKeeper 360 in the near future. In the meantime, be sure to watch the video below that demonstrates all of the features of this compact and useful carrying bag.