Thanks for the feedback; I'm glad to know I'm not crazy and others have experienced some of the some issues.
Based on reading other posts in this forum, I think the lambskin is probably just a bad material choice for Kooba bags. Like ViciousBliss, I'm scared of this bag - I'm less careful with a white goatskin bag and that one still looks nearly new!
I truly believe there is a huge difference between a bag that "ages well" and one that looks "old." This Kooba bag is heading towards the latter. Like I said before, thank goodness for Apple and Shining Monkey. I shudder to think what my bag would look like if I hadn't pre-treated it!