It doesn't offer a ton of protection, but I hardly ever drop my phone so it's good for me. I do not recommend it if you drop your phone a lot.
Two people have dropped my phone and the S view cover saved me both times. The edges of the cover stick out past the phone quite a bit and they took the brunt of the falls. The edges got beat up a little but the phone was untouched.
I love the naked look too, I just hate accidentally putting it in my pocket with something else to later find micro scratches on my screen. I HATE screen protectors, but the flip covers protect the glass when it's in my pocket let me use the naked glass when I want. It also keeps the face grease off the glass.
I hope they come out with the wireless charging S view soon , I wanna try it out.