okay...this is what i do, so if you don't like the results, don't blame it on me!
i have had my leather carly for over a year now...i moisturized it the day i bought it, and have had very few scratches. i treat that bag like my work horse, so it has been wet, snowed on, dropped on concrete, been on the floor, used as a school bag, diaper bag, etc. i just rubbed the scratches with my fingers. if there are any scratches i don't really care much.
i only moisturized it the ONE day, and i STILL get complements every time i wear that bag. the SAs can't believe how old it is because it looks so good.
if you want to play by the rules, go here and you'll see what
COACH recommends...
http://www.coach.com/cservice/FaqTemplate.aspx?faq_id=39