It's in excellent condition and the label states its definately Real Leather:
I HAD to have it, if only for the simple reason that I've seen these selling in places like Paperchase and WHSmiths for nearer the £40 mark.
The problem is, I think the pages in it are really DULL. They don't inspire me to write creative stuff in it or even use the address pages. So tonight, for my craft I have started altering a few pages:
Ah! That's better! Only another 200 pages or so to go!...