Would recommend you look at the kickstand case instead, very similar design but the big thing I see lacking in this one is protection for the corners of the phone which is where you're most likely to sustain an impact if dropped. The kickstand case comes up around the sides a bit onto the top and bottom edges of the phone and protects those critical corners.
Also the kickstand case has a kickstand - which you can use in both portrait and landscape modes to great effect, it's a very nicely designed feature, and one that I can't imagine using the phone without now.
Lastly, you can get the kickstand case brand new on eBay for less than $12 shipped w/ tax.
If you like what I posted - I won't mind if you hit the Donate or Thanks buttons
Verizon Samsung Galaxy Nexus
Clie S300-> Clie TG50 -> XV6800 -> Touch Pro2 -> Fascinate -> Galaxy Nexus