I've had this case for over a year with my iPhone 4S and its performed perfectly. I've dropped my phone from various heights onto many surfaces several times and the phone itself still looks perfect.
My only gripe is that the hole cutout for the iPhone 4S camera is a little too small, so it causes this ghosting effect when you take photos with the flash. I'm not sure if this is still the case with the iPhone 5 version.
This issue has in fact been addressed and is not a concern for iPhone 5.