Yes, they are padded tubes. The shafts & butts can go in either way so there is a little bit of movement but its minimal and the padding is fairly thick. I prefer my shafts to go tip up to keep the bluing of the shaft down. The bottom of the case appears to have foam with a strip of leather on top. The top of the case has a thick piece of soft lambs wool if I recall correctly.
Thanks...good info. Tip to case Mfgrs...show website pics of the inside, please...not everybody does this.