CaseCrown Bold Standby Case (Black) for the new iPad & iPad 2 (Built-in magnet for sleep / wake feature)

I bought an iPad 2 16gb wifi only and it came with a one year manufacturers warranty. What does this cover? I heard it only covers defects in the device but not a Cracked screen or anything
Like that. Don't worry my iPad is Perfectly fine but

A: You are correct, it only covers manufacturing defects (h/w and s/w).

a Cracked screen occurs due to user's fault - so no coverage.
Jailbraking violates the warranty as well so you can't ask for s/w related support either (say, your

Empower Apple iPad-Carrying Students With WaterField's Protective, Stylish Cases

SAN FRANCISCO, CA, Jan 20, 2012 (MARKETWIRE via COMTEX) -- With Apple's new iBooks 2 and iTunes U, the iPad will become students' digital course hub for everything from studying texts to taking notes. With a WaterField Designs(TM) protective case, iPads can withstand the inevitable student use-and-abuse. WaterField Designs, a San Francisco manufacturer of custom laptop sleeves, bags and cases for digital gear, offers the iPad Travel Express(TM) and the iPad Wallet(TM) -- svelte and highly-protective, all-in-one, iPad carry solutions for today's iPad generation.

"Finally students can unload heavy course books and get some back relief," notes WaterField Designs owner Gary Waterfield. "The iPad Travel Express and the iPad Wallet have protective pockets for the iPad with room for other student necessities -- a wireless keyboard, mouse, charger, keys, phone, and wallet. Toss either in a backpack or opt for the shoulder strap and they're ready for class, the library or anywhere... minus the backache."

Source: MarketWatch (press release)