If you're using the belt clip and consider $50 a reasonable price to pay for really good protection then yes.
If you like to keep your phone in your pocket, I would have to say no. I have the OB Defender and the Diztronics Rev3, and the Defender definitely gives you peace of mind, but it does add bulk and because the outer layer is the silicon shell, it attracts lint and will get caught on your pocket as you pull it out (unless you have really baggy pants/shorts). IMO, if the silicon part was on the inside and the hard case was the outer layer, it would be perfect.
As it is, I use the Diz Rev3 for everyday use and will switch to the OB Defender if I'm traveling or going to be around a lot of kids or some other situations where I'd want more padding on my phone.