I use this to carry an unkeyed wooden flute. It's fine for carrying the flute and offers great protection. However, it's a bit bulky, with the bottom half made of solid foam. It could be half the depth and still achieve the same function. It's not well balanced and hangs at an angle when carried by the handle - no biggie, but thought I'd mention it.
It also contains a handy additional full size pocket, which is great for carrying a whistle, cleaning rod, cork grease, tuner, etc.