I think so. I accidentally dropped my 350 on the asphalt into a puddle during the rain today. No issues. The only terror I had was when I took it out and saw that the stylus had popped out. But it fit back in, and there was nary a scratch or hiccup.
I had to drop my 505 about 20x before I cracked my first substrate, so I don't feel all that terrified about bringing it with me. The 350's also been in my gear bag and probably thrown around and squished at least half a dozen times this week.