***UPDATE***
Two and a half commutes on the saddle now, (~125 miles). The butt divots are not any more pronounced than they were, but there is just slightly more "wrinkling" in those spots. I'm not noticing a huge difference from the first day, but like I said, it's not uncomfortable at all. Even with its rigidness, I can feel it absorbing impact from the pavement.
I did give the bottom side a going over with bee's-wax based leather treatment over the weekend. We are expecting rain later this week and even though I ride with fenders, I wanted to apply a little protection.