I (finally) received my Neo Hybrids in Satin Silver and Reventon Yellow today, Oct 18th. The order was placed Oct 1st and I never received any status update or shipment notification. They just showed up in a USPS pouch this afternoon.
Anyway, I like the case. It's slightly less bulky than the Apple bumper and the rubber lip isn't nearly as grippy nor as tall. So, it's more prone to slipping out of your hand and doesn't offer as much drop protection. But, it does come with front and back screen protectors so it beats the Apple bumper overall for protection. The buttons have a nice feel and work easily. And the Neo doesn't seem as prone to slipping or shifting on the phone as Apple's bumper.
With the Satin Silver case on, the iPhone 4 looks about as "naked" as anything I've seen except a clear skin. The yellow case gives the phone a "sporty" look like a piece of dive gear or a running watch.
I've put both cases on and taken them off with no problem. The Neo Hybrid EX doesn't seem as delicate or difficult to remove as some people have reported. With a little care, I don't see this case being a problem to swap out once in a while.
I think this is my new favorite case for daily wear at work. I'll still keep my Incipio NGP around for those times when a little more protection is in order.