In all honesty, the Lifeproof falls short of the $80.00 USD price tag. Of course the iPhone 4/4S has a beautiful retina display, and the bubbly screen cover of Life Proof case is nice, although it does NOT work perfectly, it does take some getting used to, can take away from some workability of the 4/4s display.
As far as the waterproof feature goes, don't test it. It's more of a just is case feature, as mine failed thus ruining my 32GB 4S. Yes, it is a nice feature to have, but come on, if you are spending $300.00+ on a phone why are you taking that risk?
It is nice and slim, although the accessories (belt clip, bike mount) are available at an absurd price (upwards of 20-30 dollars for plastic pieces) They are nice but again, there are other options.
Overall, great idea. Modest at best execution, much room for improvement on the screen protector/digitizer side of things with THOUSANDS of complaints of rainbow effects/bubbles pouring in from all over, perhaps a more stiff piece of flexible, and conductive plastic will take care of this problem. I mean, for $80.00 USD, or roughly a full day of labor at minimum wage plus a little extra ($7.25X8 hours= $58.00) shouldn't thing thing do a better job? Is it really worth 1/365 of your yearly income? I think not.