I've owned Waterfield Design's leather wallet for 3 years. In fact, I just bought a new one since the inner pockets of my 3-year-old were wearing out. This wallet was just reviewed at The Gadgeteer with some really nice photos and thorough review. After a week of use, Julie, loves it.
Why is this such a functional wallet? One thing I've liked is that it accommodates a lot of stuff like lots of credit cards and it gets a lot thinner when you don't put much in it. Since it has a zipper, you can put change in it and stuff things in it if you are in a hurry and not worry that they'll fall out.
The zipper is excellent. It works with total reliability and curves around the side of the wallet so you can always see and get to anything in there in a hurry.
Like other items in the Waterfield Designs portfolio, workmanship is excellent. The new version has been improved in subtle ways. Now the inner pockets are stronger so I don't ever anticipate they'll fail like the old ones eventually did. The new wallet seems to have a slightly stiffer outer casing that makes it look better - it keeps its shape.
I own several other Waterfield items including their stylish and functional Cozmo bag and several of their awesome gear pouches. All are of excellent workmanship and design. Service is superb with amazing shipping turnaround times.
I live 12 miles from Waterfield Design and have been to their factory/warehouse/office. Founder, Gary, showed me options firsthand. If you are in the Bay Area, I highly recommend a trip over to the fringe of Hunter's Point to check out colors and textures and sizes firsthand if you have any question about what you'll get. That was over two years ago, so, since they don't operate a retail outlet, you may want to call ahead and see if you can schedule a visit.
Still made in San Francisco, maybe their site says it best:
In a nutshell, WaterField products are ridiculously well-made, fastidiously designed, have more personality than you can shake a stick at, and are so “user-friendly”, that you can actually operate them with one arm tied behind your back.