Like my father before me, I am a devoted Franklin Covey Binder user. We're in the 21st century and paper is going obsolete, so I decided to gut out my paper binding Franklin to house my new iPad. 

Step 1:

Using a drill, I drilled out the rivets holding the binding mechanism and grind down the excess metal down as far as possible. 
<p>very nice.</p>
Sleek. I don't have an iPad but now I want one so i can do this.
From your photos I am guessing the paper size you used in your Franklin Day Planner was 5 1/2 x 8 1/2. It is great that your iPad fits just right. It is also a good way to protect and carry your iPad, as well as a good way to get further use from a nice Franklin binder.
Sweet! You may also want to remove the internal zipper, so it doesn't scratch up your iPad. I would just remove the whole zipper.
I was thinking about gluing a strip of leather creating a flap. Just enough to cover the zipper and the pen. For now the screen protector does the job.

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