Prototype Moleskin Cover, Help Me

Last night I worked up this cover for those amazing little moleskin notebooks. Personally, I always carry a moleskin in my pocket and I love them.

I made about five prototypes with paper just to get the size right and this is the first one I made with vinyl. I'm almost 100% happy with it. The main problem is that because of the stitching there is more overhang than desired. This wouldn't be bad except for the fact that if you want to use the elastic strap to keep the notebook closed it bends the top and bottom edges of the cover and that just doesn't sit well with me.

So, I need your help. If you were as dedicated to moleskins as I am would it bother you to not use the elastic strap at all? More importantly, I'm curious if losing the strap would keep you from buying an artsy cover for your moleskin.

Questions and feedback are encouraged. Afterall, I make this stuff with you in mind.