"Pong is the first product to meet international testing standards for SAR reduction and has been verified by industry leading laboratory Cetecom to reduce SAR for the iPhone 3GS in the
WCDMA 1900 by over 60%."
Here is the problem, the iPhone does not have a CDMA radio, it is GSM. So they didn't get that right. Also unless it has some sort of stealth technology you can't manipulate electromagnetic radiation like this. You can reflect it off surfaces and absorb some, like stealth planes do, but you can't channel it. Especially the way their animation shows, there is nothing on the head side of the case to deflect it.
"TRP represents a cell phone's outgoing signal strength. With the Pong Case, TRP is 100% as compared to an iPhone 3GS without a case, as confirmed in tests by Cetecom (view PDF)."
The iPhone does not broadcast a signal, it only picks up the signal from the cell towers or wifi access points.
If you are worried use the speaker phone or the included headset.