As title says it all - if you just want an inexpensive, nice white shell for your iPhone 4, and don't need any protection for it, then this is a decent shell.
Very slim and light. The sides are transparent. There is minimal protection from falls to hard/scratchy surfaces at best.
This is mainly to protect from scratches as you lay/place the phone on various surfaces/places, not protect from drops.
I got this right after I bought the phone for exactly that purpose, then I spent the next several days researching for a good protective shell and have since replaced it.
For ultimate protection, get the Otterbox Defender case("The Tank"), which also adds CONSIDERABLE bulk to your phone.
For medium protection, you can get a Speck shell, which adds medium bulk, but not too bad.
For slim protection, you can try the Case Crown Slider shell, which is just about as slim as this generic shell, but offers more protection with its slim padded inner side and a polycarbonate shell.