Though this case is rather expensive, it is definitely worth the expense.
I have had this case for a few months now and compared to various other cases I have tried, my experience with how well this case protects my phone is exceptional.
I am not someone that generally puts my phone in situations where it could get damaged however I drop things a lot and recently had my case in a backpack that flipped while canoeing. In instances of dropping the case, my phone has experienced no damage (do to the solid thick plastic back, solid rubber edges and thinner but durable screen protector on the front). When my phone was submerged in my backpack (which was sopping wet) I examined my phone with the case on and off of it afterward and no water damage occurred to the phone whatsoever. The phone was dry while the outside of the case was wet.
I know there are many other cases that say they protect this well however, I have used several and this is the best case.
I have not and probably will never test the shock resistance or other abilities of the case however if you require such protection, I would not be surprised that the protection guarantee will be lower than what it is for waterproofing and withstanding a fall.
Don't buy this case
Worst case that I have ever had is a lifeproof case. It broke 3 times or more. I hated it. I don't know how it works in water because I didn't want to try it, the seal on the charger port was broken. Don't waist your money and or your time on this case.
This case is awesome. It has protected my wifes phone from water spills, children chewing on the phone, and baby spitup.
I'm seriously considering getting one myself, and with Lifeproof's great warranty for the first year you cannot go wrong.
The only thing I am trying to figure out is if it fits in a hip holster as that's what I prefer to use for carrying my phone.