Not really. There are effectively six sides of the phone. Most frequently that my wife (I say my wife because she is terrible, I almost never drop my phone since I am anal to the point of ridiculous) drops here phone it is landing on one of the sides. Soe depending on how you see it, you either have a 1/6 or 1/4 of hitting that naked part of your phone with a drop.
Anyway, regardless of my chances, if I am going to put a case on my phone, I am doing so because I want complete protection. Outside of that it is merely an accessory to me.
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I really liked the protection and style last year's Apple leather case provided. To my knowledge, we hadn't seen leather like that before. I will probably get something like what you linked here. I used to be a huge fan of switcheasy too. Maybe I will see what they've got going on...
EDIT: Right now, apparently nothing (referring to switcheasy)