Can a "regular" folio iPad case and a keyboard co-exist? It's a tough combination, as I've noticed time and again, because the presence of one tends to mean compromise in the other. Most keyboard case solutions I've seen that offer a "real" case tend to be imperfect, and wouldn't appeal to most people. A rare exception was the Belkin Keyboard Folio for iPad 2, a clever little foldable case that tucked a large keyboard underneath its body. The Keyboard Folio could adjust itself as needed to fit your needs.
Belkin's second-generation redesign, the YourType Folio + Keyboard for the new iPad and iPad 2, has a simplified folio case design but takes a different stance with the keyboard: instead of folding underneath, it stays on the inside cover, but can be removed with Velcro.
Simpler? Yes. However, the new design isn't such a fantastic folio case. It's not terrible, but it's far from stand-out. It can act as its own iPad stand for landscape-mode movie viewing, but the YourType Folio isn't a design that rises up to meet the iPad like the Logitech Ultrathin Keyboard Cover. Some may like it more for its overall protection, but there's nothing that revolutionary about the YourType that isn't in many other keyboarded cases already. Yes, it works. But, unlike the last version, this new case adopts no new ideas.