Well, I'm not much help--cover #1 is an Oberon (which is, well, the same as what you had), #2 is an Amazon cover I tore apart & redid (not exactly simpler), and #3, on its way, is a Noreve. Which is simpler, but isn't exactly going to save you any money unless you pick one up used.
But--some insights, for what they're worth.
I started with the Oberon for the same reasons everyone else gets them. You have one, so there's no reason to elaborate. For me, the Oberon is too heavy & a bit bulky feeling.
Went with the Amazon with the intent of redoing it--which was fun, but it's been too difficult to find the right materials to make one exactly the way I want it. However, having gone with the hinge system for a couple of months, I've found that I REALLY like the floating look a lot. However, though I think the hinge system is pretty clever, they didn't get it right on the K2--Amazon ended up adding magnets to the back panel of the DX & the back cover to keep the unit from cracking if it falls forward. No such protection on the K2.
The Noreve's rail system has attracted me all along, I just didn't like the price tag or the interior "wallet" setup. But after redoing an Amazon cover & realizing I still wasn't happy with what I had, I opted to take advantage of the current 15% off coupon and give it a try. Now I'm not so patiently waiting for my new Sandy Vintage version to arrive.
I've also found that I'm happy enough reading without any cover at all for the most part--covers for me are added protection from rampaging schnauzers & crazy cats....and husbands who tend to set things on top of other things. However, not one of them is light enough for me for dropping into my purse. So I started looking at sleeves. Tried the Octo (reviewed in the reviews section), the BorsaBella Naked Kindle Sleeve (like it, but not protective enough against impacts), and finally the new TrendyDigital Simplicity, which I love. A review of that is also in the reviews section. It's more compact & lightweight than any cover out there, rigid enough to protect, and it's in a fun faux croc finish. I use it strictly for taking the K2 out of the house, and I have to admit I marvel at the lightness of it every time I pick it up.
Calypso's been through two skins--Monet's Garden at Giverny and Monet's Waterlilies. I adore Waterlilies for it's tranquil look and haven't had a whole lot of urge to change it out again, but I do try to stay out of the skins thread. LOL
