I just had my black iPhone 5 Ghost Armored at a local mall after reading about it on here. I really liked the look and feel of the iP5 and although I have a case that will arrive in a couple of weeks, I wanted something to protect against the scratches many posters have have complained about. I paid $45 for the full coverage version, and that included installation by the guy at the kiosk who sold me by showing me his GA'd black iP5.
The process took about ten minutes, including some time in a plexiglass-covered box that I guessed had some air circulation and perhaps temperature or humidity control. In any case, when he gave me back the phone, it looked pretty good, but there were some tiny bubbles still visible. I was assured these would disappear when the material "cured" over the next several hours, and I had to keep the phone in an open area during that time.
Despite my skepticism, all the bubbles disappeared, and now you have to look pretty closely to even be able to tell there is any covering at all. The texture of the material is less slippery than the naked phone, but pleasant, and the touch screen sensitivity is unaffected as far as I can tell.
I'm pretty confident that their material will prevent scratches, but obviously it can't offer much protection from impacts. Because the covering is thin enough, I think I can still use the case on order, but when I'm anyplace I think it's less likely to be damaged, I think I'll dispense with the case and enjoy using the phone as it was designed.
I can't compare this to any other similar product, because I've never used them, but I'm really happy with Ghost Armor.