Less than two months ago, I purchased an iPhone 4S 16G, as well as a LifeProof case, which the dealer told me was superior to an Otterbox. It is touted to be waterproof, dirtproof, snow/iceproof, and shockproof. Up until today, I have been quite pleased with my case, though the screen protector does make it a bit harder to to tap the screen.
Today, I had my phone in my pocket. When I bent over, it fell out and hit the ground from a height of two feet. It was completely in its case, and I had performed all the checks recommended before using the case. It fell on to carpet. When I picked it up, the case was undamaged, but the entire front of my phone was shattered. It look as though it had been hit by a bullet. The screen still worked, but it was covered with tiny shards of glass. The damage seemed focused around the ear speaker at the top of the phone. I have in the past dropped an iPod touch, sans case, face down onto tile, and the damage was about 4x less than the current damage on my phone.
I immediately called Apple, who told me that the warranty did not apply to my situation (though this was not a surprise). I would have to replace my phone, refurbished for $150 or new for $200. I then called LifeProof, at which point I discovered that their warranty only covers the case. They will not refund your phone, though they offered to give me a new case. The person I spoke to told me that he used a LifeProof case, and that his screen had cracked several times while using it. He recommended going to an independent phone dealership who would repair my screen.
In short, this overpriced case does almost nothing. To be fair, I have had no problems with the waterproof aspect of the case. However, it will not protect your phone from even the most minor drop that would normally not damage the phone at all. I have seen several accounts of LifeProof owners who put their phone in their pocket and pull it out cracked. This case is not worth $1, let alone $80.
For emphasis, I have included some photos of what my phone looks like after the fall. Remember, this was only two feet and onto carpet while in the supposedly shock-proof case.