The VZW shell/holster combo works very well and seems to hold the phone securely, at least while it is new... only time will tell if it stays tight and secure or if it loosens up. The inside of the holster has a soft fabric to protect the screen.
The case adds very little bulk to the phone, and as pictured, doesn't completely cover it. The top and bottom are left uncovered, as well as the front. If you intend to carry it mostly in your pocket, the silicone case looks like a better bet... and it is cheaper. If you intend to wear it on your belt, this case seems to be pretty good.
Construction seems to be good, especially for the price vs. the competition. I have never had a case or holster last the life of the phone, with the exception of the OEM holster on my StarTac which was stronger due to the lack of a rotating clip.
An Innocase w/ holster or Otterbox would probably be better, but they are not as easy to get right now and are more expensive. I might upgrade to a better case at some point, but the VZW case will do for now.
The VZW corporate store I was at had a 25% discount on 3 accessories $10 or more or 20% on 2. That makes this case an even better deal. Don't know if this applies everywhere or when it expires.