just got mine today, very little added bulk, about the same as the Innocase II maybe 2mm more in thickness.
As for protection... I am on the fence with it. It is basically a rubber case with a partial plastic exoskeleton. I have the Innocase II as well and I while it is a hard case (rubber wrapped), it may protect the phone better.
The only differences between the Innocase and the active are the push buttons are covered, otherwise coverage wise they are essentially the same.
As for looks, hands down it looks great (the sapphire blue one), better than any case I have ever owned.