Well, my old wallet was about 6 years old, and was falling apart, so it was time to replace it.  I was looking online and had no idea they could get so pricy.  I wasn't about to spend 60+ bucks on a wallet, that's just a little ridiculous.  I must say, I'm quite pleased with this wallet.

Pros...
Feels like a good quality leather.  I've had mind for over 2 months now, and it still looks brand new.  I can tell the leather will last.
Has plenty of pockets for credit cards, id, etc.
Two separated cash compartments.

Cons...
It is a little on the big side, but that's to be expected from a bifold.

Overall, a great wallet and you can't beat it for the price.  No need to drop a money on a name brand wallet.