Co-developed by Griffin and Catalyst, the new Survivor + Catalyst Waterproof Case for iPhone 5 ($70) is a direct rival to more expensive waterproof case offerings from companies such as LifeProof and Incipio, bundling together a slim, mostly transparent iPhone 5 housing with a wrist strap and headphone port extender. Easy enough to open and close, Survivor + Catalyst promises to be waterproof to depths of 9.8 feet while still providing access to all…