They fit better inside out and they look better. I switch between inside out and the hf2 leather headband daily. The v3 is a good headband and I do like it. I bought it for looks and not comfort. So the padding wasnt the clincher.
I don't really like the stock leather grado head bands much, not much padding if any at all. No regrets with my J$ v3 ( the thick and wide one, not v2 which looks like a grado replica) headband at all, the balance and padding is quite a step up from any grado headband. I don't get why you would put it on upside down unless you don't like the padding and prefer no padding.