Indy Pen Dance sells real leather cases, and their prices reflect it. All the others under $8 are "pleather" or vinyl that looks, smells, and feels like leather (which works great for me and my customers so that's what I go with).
Guys seem to take it out of the leather pen case and toss the case in a drawer and it's a waste to give it to them... a plastic presentation box or even a paper one would be just fine. Now the ladies love those leather cases so they can toss their pen in their purse protected and the non-black or brown colors make them very happy, so you may want to reconsider your thought about the color variety PSI forces you to purchase.
You're so right about PSI order processing though... sheesh they are slow most of the time.