It is soft sided nylon with elastic sides. It is lined with a soft “felt-like” lining. I have been using it on my messenger bag strap for 4+ months and not a scratch yet. (Knock on wood) I ususally place the LCD towards the back of the case since the layering is as follows:
(front to back)
ballistic nylon
soft felt-like layer
whatever you put in the pocket
double sided soft felt-like layer
T1
soft felt-like lining
ballistic nylon
ballistic nylon strap (or whatever the pouch is attached to)
ballistic nylon w/ finer fuzzy lining
velcro sticky
velcro fuzzy
ballistic nylon again
then me!
There is no real additional protection besides fabric although one could probably slip a credit card size piece of plastic inside to protect the LCD if one so desired.
The seams on the sides protrude past the elastic providing some lateral protection although a not from a direct shot.
I would believe the T1 would be well enough protected from a fall from table height or your belt although I haven’t tried this yet!
I have seen them at Apple stores if you want to check one out in more detail. (of course bike stores as well!)