Even with the protective cover for the iPhone 4 I am satisfied: After initially an envelope was delivered, which did not meet the description, HandyNow has contacted me and offered me a free replacement. That's what I call customer service! The new envelope arrived today - it is fully consistent with the product description and fits perfectly. And the attractive price speaks for itself - many cases are considerably more expensive.
Conclusion: I would recommend the "all-round protection" for the iPhone 4 without restrictions.