Pros The case is tough, waterproof, the touch-screen works, and you have access to the buttons. Lift-up hatches give you access to a HEADPHONE jack and a USB (charger, sync) jack. Has a battery to make your phone last longer.
Cons The edges of the case-screen match the iphone TOO closely... getting your finger to work the touch-screen all the way to the edge of the iphone is difficult. The "headphone" jack DOES NOT ACCEPT MICROPHONES. Mine arrived with a bad headphone jack.
Summary Mine arrived with a headphone jack that was non-functional, and as soon as I found that, I sent it back for a new one... so this review is limited, as I no longer have it! I doubt it would float with an iphone it it. It seems big as a brick, but you will believe your iphone is safer. The "water-proof-ness" is limited (I forget the specs) and it is not clear to me if the unit will be waterproof if, at the time of immersion, a headphone plug is inserted in the jack, because the o-ring sealed, headphone jack "hatch" would be open. Maybe it would ruin the case but save the iphone, maybe the iphone would get wet, I couldn't tell. The belt-clip that comes with it is ordinary, and convenient, not strong. It will LET GO of the phone, or your belt, easily. There is a lanyard attachment point, (but no lanyard provided) so get yourself a clip or caribiner, and swipe a lanyard from some other toy, if you like to clip your phone to yourself. No holster. Hey, no charger, either. Uses a standard USB A-to-mini-B cord, not the Apple ipod cord.
It has an internal on-off switch so you can turn off the GPS circuitry that is in the case, so it won't drain the battery. It has extra buttons and bright (too bright) blue LEDs on the bottom to indicate "status". Supposedly, you can charge both your iphone and the battery that is in the case, but I wasn't able to make that work, simultaneously. Two overnight charges left me with 100% iphone battery charge, and "red light" Magellan Toughcase battery charge, and I think it had something to do with those extra "status" buttons. Twice i just took the iphone out and charged the case by itself, and that worked fine. This case is SO big, you'll likely not use it as your daily case, anyway. The thing works like an iphone should, as a phone. You hold it up to your ear, and you can hear. You speak, and the iphone's original microphone picks up your speaking. There are two ports that allow the sound to come out of your iphone speakers, and they sound fine. But the truth of the headphone jack, the part about not supporting an in-line microphone, that is a shocker. I am amazed that Magellan does not admit that up front.
The internal electrical connections to the iphone are 100% through the "docking connector" ... so maybe that is why a microphone is not supported.