So, the LifeProof case actually leaked water into the case when used in shallow water after working fine for many months prior. Wife discovered the phone getting hot, the LED flash on solid, and the power button being flakey.
The repair kit worked great, it allowed me to open the case and attempt to dry everything out. Unfortunately, it was too late; The modem and GPS units were fried. On the bright side, we ended up making an appointment at our local Apple Store to get it replaced, fully expecting to pay the $199 out-of-warranty replacement fee. My wife went down, told them what happened, and the manager said she wanted to check the water intrusion sensors first even though my wife said it had water damage. The manager came back a few minutes later and said none of the water sensors were tripped so they would replace it for free under warranty. Hooray Apple!
If anyone plans on disassembling the logic board in an iPhone, TAKE PICTURES every step of the way, video it, something. Take note of where every screw came from as some screws look alike but they are different enough to matter.
Ultimately, if you have a damaged iPhone then it's probably worth it to a lot of people to just pay Apple $200 to replace it out of warranty.
If you just want to replace a bad battery then by all means go for it, this kit will take you there.