G-Form, a protective-wear company that is transitioning to iPad enclosures loves doing these stunts. In the video below, someone drops an iPad in their extreme sleeve out of an ultralight at 500 feet. The camera falls off but it looks like the iPad survives.

[youtube http://www.youtube.com/watch?v=rKNdknJI53Q?rel=0&hd=1&w=640&h=390]

Unfortunately they are only on pre-order.  The company promises to deliver on May 10th.

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