We've had a few iPad stands that we've talked about on TUAW, and all of them do the same thing to one extent or another -- they prop up the iPad so that you can view the screen without holding the device in your hand or lay it down on a desk.
EasyStand for iPad is a $19.99 device that is simple, well-made, and does exactly what it is supposed to do. The device comes in two colors, Metallic Black and Metallic Silver, and features two slots that are at slightly different angles. If the angle at which your iPad is being held seems too steep, just turn the EasyStand around and pop the iPad in the other slot. Both slots are felt-lined to protect your iPad, and there's a tiny "finger notch" that ma