I actually like this - might make it my pocket pen for a while just to see if it holds up. I'm not worried about scratching it because, hey, it's leather!
I wasn't sure what to think about this at first, but the more i thought about it the more i liked the idea... enough to find the post after it left the front page... i think it would make a neat workshop pencil! After 5 or 6 months of shop use the patina the leather would get would look great. i like the look of that worn patina leather gets. well, thats my 2c worth...
I just saw it Steve, and I believe it will sell. Now for the dumb question time. Did you turn the leather or punch it out and glue it to the tube? Are the individual pieces glued together or just to the tube?
However you did it, that is one cool idea. The market will be different than most but I do think you have a sellable idea here.
Charles