Waterfield here in San Francisco is now offering some neat razor cases; Leather: ..or nylon: Here's a product video:
Very nice. Pretty classy as well. I still wouldn't want to travel with one of my nicer razors though. I'm always worried it will get damaged or stolen.
I always travel with a nice razor. You only live once and razors are cheap. Besides, I have never had anyone steal anything out of a carry on bag or a checked bag. I have heard of such things but life is really short not to have a good razor, pocket knife and other essentials. Sure it can be a bit inconvenient but I think it's worth the trouble.