For what its worth some girl is selling 700m sleeves on ebay for under $10.. I carry around a laptop bag already and just wanted something to keep it from scratching when I throw my other laptop in there (a ThinkPad T42 from work.. I don't care if that gets scratched

- didn't really need padding and protection that some of the other sleeves out there offer.
Anyway, this seems like she bought both leatherette and suede fabrics, cut it down to size and made it a good fit for the 700m.. the stiching is excellent and strong - it seals with a velco flap.
Because of the price I ended up buying both to try 'em out and I like them. I prefer the leatherette because its seems 'stiffer', but they are both great and exactly what I was looking for. I'm using the smaller batter and theres a little room in there - the larger battery would definately fit like a glove.
I'm not affiliated with her in any way so I won't post the link (Don't want it to be considered spam).. just search ebay for 700m sleeve and you'll see the ad.
If you already carry some sort of laptop bag and JUST want protection from the other things in the bag, this'll work nicely - if you want padding and protection from a fall - it won't do anything for ya...