This case arrived the day after I ordered it for my iPhone 4 - a couple of days before the phone itself arrived! It ticks all the boxes; my phone fits perfectly into the case and I haven't experienced any issues with it being loose or even shooting out of the case, as some users have reported. It offers spectacular coverage of my phone, solves the reception problem, and makes it much easier to grip. At first I was worried about the chunky look, but there's nothing as reassuring as seeing my precious phone safe in this case, and it fits snugly into the pocket of my jeans - very easy to take out. The magnetic lid offers very good protection and doesn't even open if I hold it up in the air by the flap alone. The only problem I can name is with the iPhone's main button, which the case covers over. It takes considerable effort to push this button now, but once you get used to it, it's perfect. For the price, I would recommend this over any "luxury" or "designer" case on the market at three times the cost - it does exactly the same job.
== EDIT ==
I thought it would be appropriate to add something to this review, almost a year and a half after purchasing the case - I recently bought a second of these for another iPhone and the design appears to have changed a little since my original review. The foam padding in the back of the case and its front flap feels substantially thicker than the old design, offering greater protection. The part in which the iPhone sits is different too, it is now fairly rigid whereas this part on the old design moved around. All in all I'd say the redesign has added to the already superb protection offered by this case. Additionally, the problem with the home button being too difficult to press is now resolved. The only fault I can find is that the holding part does cover the left and right edges of the screen somewhat, making it difficult for someone like me to access primarily the 'P' key when typing on the keypad.