I finally got my knockoff today and I would say it's not bad at all. The paint is nicely done. It's not a precision cut like the vapor as the edges are more round. The feel of it is very nice, heavy but not heavy enough when you hold the phone. Fits perfectly. Nice pick up for less than $15.
I ordered a knock off Vapor 4 for like $30 on eBay that came in today and sadly I have to return it. It is SUCH an amazing looking case, but in my house where I have 4-5 bars of signal, I was only getting 2-3 bars with the case on :/
I've got one and as far as I can tell it's actually real. Whether it is or not I don't honestly care. What makes me think it's real is the quality of the build. It's precision cut just like the actual Vapor and the etched Element Case logo on the side is in perfect details; something a knock-off would not care for to pull off well.
Don't bother wasting money buying obviously fakes. They actually look cheap, with those round edges and the writing on them.
The Vapor from the dealer even comes with the carbon backplate. In the UK, I paid £17 odd for it including free shipping.