HOLY MOLEY .. WOW .. that's beautiful .. and this coming from someone who is not overly crazy about Turquoise/Teal-Blue colored bags!!!!
Personally, I think the leather is great on this bag .. kind of like the "shine" (but yes .. it will diminish over time).
So far from what I've seen, the leather on the F/W 2012 bags is consistently good, much thicker and great distressing than the S/S 2012 season.