you do realize that baggage handlers are just as "careful" as FedEX and UPS employees. That means they don't really care too much about how they handle something.
I flew with my MTB to Las Vegas 2 months ago then flew from LA back to NY with it. No damage at all. I flew Southwest and they offer something that no other airline offers... insurance up to $4,050! It cost me only $12.50 for the additional coverage over their normal $2,800 coverage. Not too shabby.
All other airlines only cover up to $500 and many don't even cover a bicycle. If you have renters or home owners insurance then make sure that your bike is covered there.