The covertec _does_ have a magnet in it for the power-down feature. Of all the cases I examined, the covertec, without question, was the best in quality and features. Phone slips out easily when I want it too, and stays put when its in the case. Clip is completely removable making an easy slide-in case for pockets.
I actually use the phone in the case; the flap just goes around my head. Its easy.
Really well done case, worth trying.