This &39'first run&39' collector&39's edition of the Vapor Pro costs $149.99.

We wrote last year about how Element's swanky $79.99 Vapor Case was becoming something of a vanity case for iPhone 4 owners. That said, while the case looked sleek, some users complained it was less than perfect and experienced reception issues when using it. Element claims to have fixed those issues, and has now added a new, improved, redesigned Vapor Pro iPhone 4 case that's being released first in a special collectors' edition that costs a whopping $149.99.

What makes it worth $149.99 We're not sure, but we're told it's made out of expensive materials and some parts are hand-tooled. Read these marketing bullet points from the company to get a sense of its value:

Wider access ports on top and bottom for compatibility with a wide range of headphones, earbuds, and third party charging cables.

A special, aerospace polymer section built over the antenna contact points eliminates "death-grip" issues and improves Wi-Fi, GPS and 3G reception (note: we haven't tested the case yet, so we don't know if this is true).

A unique, diagonally attached design with bolts now positioned at opposite corners of the phone.

A "beautiful," perforated SIM card slot with accents on the broad side opposite silence and volume controls. (Note: who knew a perforated SIM card slot could be beautiful)

Unique titanium alloy finishes.

A special hex key tool for removal and installation that can now be carried on your key ring for easy accessibility. (Woo-hoo.)

Element says this limited "first run" collectors' edition includes a zippered carrying case and that aforementioned keyring installation tool. Subsequent models for the Verizon iPhone, more colors, and other back plates will be released in the coming weeks.

Who wants one Or rather, who can afford one