To be honest, I've never really been a big fan of patent leather, mainly because it feels synthetic and makes your arm/side feel clammy and sticky (particularly in Summer), since it's not breathable. I like lush, rich, naturally tanned or dyed leather that breathes and smells leathery. However, Marc Jacobs does use the finest patent leather materials for his bags, and if I liked patent leather, even a little, I definately wouldn't hesitate to get one of these while they are available, as they are indeed beautifully made, and don't look quite as tacky as some other patents out there, IMO, of course.
...oh, and speaking of the stam in particular, with its big chain hardware, the patent might be a just a tad bit overkill in the shininess department...