While I agree with some of what you're saying, I have to ask, what are you expecting to hold the gray gasket? My $200 waterproof Canon camera case has the gasket just sitting there, no ratchet straps or zip-ties.
But for the record, the touch screen sensitivity is actually pretty good once you following the 2-second instructions on removing the air pocket. Mine flattened out very quickly and had close-to-original sensitivity but was slightly less sensitive around the raised Home button. My ringer switch worked every time. Yeah, audio quality was degraded but not terrible, especially given the fact that it's in a waterproof case.
You can hear that the aforementioned $200 case created by one of the leading camera companies has muffled sound as well.
http://www.youtube.com/watch?v=8d5YpOBMiEs
Yes, I recorded the video.
No, I'm not a fanboy, because my case is on eBay, mainly due to the speakerphone issue, which a 100% fix now exists for. I contemplated keeping it after that but I'm already enjoying watching the bids rise and rise.
I'm also enjoying my Casemate Pop with a naked screen.
We'll see how much I miss it when we pull the boat out again this weekend.
Just saying, after following simple instructions, this case is nowhere near as bad as everyone makes it out to be, but it's just not worth $70 due to cheap materials.