A big resounding "Meh." Cool for being retro, but I have mine for display only. I doubt it could protect lenses from anything aside from dust. There's no way I'm going to test if it actually floats.

Very lightweight. It might keep your glasses from getting scratched. Good for display and cred from fellow Oakley Geeks, other than that, pass.

If it was supposed to be done for Sub Zero/Zero, they do not fit ... At least, my 0.3 don't fit really well, and I have to bend the arms a bit to close the rear flap. Not very good points here.
But the retro look and prints can save it 2 skulls

Hate the snap and its a little flimsy. However I do like the material it is made from as it is more washable than some of the newer cases.

Brings back so many memories. In my the small town that I grew up in this was the only case available that had some sort of resilience with the Oakley name on it. I stored my Eye Jackets in here but that didn't prevent them from breaking.