Some people had an issue with the color bleeding on the Medge on the very first version. Those had interiors that were dyed to match the exterior. Now the interior is grey and does not bleed. As a matter of fact, I have an original one in red, with a red interior, and have never had problems with the color transferring.
I have 4 leather Medge covers. Red, Saddle, Black, and a new the Sapphire. I also have the new image jacket that I'll be sending back (more on that in a minute). I also am getting an Oberon for Christmas. It showed up today, but I'm not allowed to open it, so I can't comment on it...yet
The newer leather Medge has a stiffer spine that I'm not as crazy about, although the color is gorgeous so I'm dealing with it. It's not awful, just an adjustment after the easy of folding the previous ones back. I'm working with it and hoping that it loosens up some with age and use. The closure tab is an improvement from the previous version and it looks a bit more finished. I'm pretty happy with Medge (although at the moment I'm having some issues with their customer service, but that's another story).
The image jacket. I got this to give to my mom for Christmas. I really dislike it. You'd think it was like the other ones right? Nope. It's bigger, floppy, and it closes backwards (the tab is on the back, not the front. The upper left corner is darn near impossible to wedge the Kindle into. There's no way my mom will be able to get it in and out. I also don't like the feel of the material, but that could be because I'm used to the leather. I'll probably give her my saddle one instead.
I don't think you can go wrong with either the Oberon or the leather Medge.