I remember folks in a bit of a frenzy over the Oakley vault when they were discontinued. Some may remember the Casebudi case which was often compared to the Oakley vault. I picked up a large and small Casebudi last year and find the large is perfect for my travel needs (two trips a month). I've never handled the Vault so I can't compare the two but I find the large Casebudi to be a great value at $14:
Note, the small Casebudi won't fit my ~40mm cases but the large handles them just fine. I'm not certain that the large would fit a case much larger than 42mm.
Large and small casebudi cases next to 40mm-41mm Omega Seamaster for size reference:
GMTIIC's 40mm-ish Maxi case:
Seamaster peeking out: