Hey smallie311,
I have to say I usually like Cabela's products for the most part. I have never used their vest but I have bought a similiar fly box from Cabela's. It's a basic box that holds your flies. Definitely, not water or shock proof in anyway. I like the looks of the vest and as I said I usually am pretty happy with Cabela's products.
Look at the following link to see the vest I use:
Fishpond Open Range Tech Pack Review
Hope this helps.
Thanks,
Terry