I received my copy for Christmas and have used it in my two weekly games since then. The leather is certainly not holding up too well. It's already faded, especially on the back where it's been in contact with desks, gaming surfaces or other books.
However, I'm still not sad I've used it. I didn't really feel like there'd be a market for it if I hung on to mine unopened after a few years. It is nice having all the errata, and it is fun to show off. But honestly, I wouldn't buy one if that's the decision you're making.