I haven't air-traveled with my backpacking gear, yet, so I can't give a very full answer. I do know that airline baggage handlers are not gentle. They are working against the clock and tend to do whatever is fastest, not what's best for your baggage.

The general advice I've read before is that it is worth enclosing your pack inside a duffel, so your exterior straps don't get snagged or ripped. The item you linked to looks fairly deluxe and ought to work very well. Odds are you can find a cheaper way to accomplish the same task, so I guess it comes down to how much money or time seems appropriate to spend. I would also consider the prospects for re-use. A common duffel bag might have more future uses for you.