Summary: I've been using this camera a while and my opinion regarding its quality looks like this: Its design is very interesting. IT feels very handy. But that's about all with the pros. The cons are as follows: it has no flash and this is a big disadvantage.
Summary: Be forewarned that if you plan to use this camera in AVCHD video mode in a warm environment, it WILL overheat and shut down. Google "NEX 5 overheat". By "warm" I mean just about any summer day, outdoors, for longer than about 10-15 minutes. Good thing my car or phone doesn't do this.
Summary: After carrying this camera around for a couple months and shooting thousands of photos, I've come to the conclusion that this camera was a complete waste of money. I wanted DSLR quality in a compact profile, but this camera isn't even close to DSLR quality, forget the sensor size.
Summary: I chose the Nex based on the stellar Amazon reviews. Unlike many, I am coming from a Canon dslr, but I'm by no means a pro, I just like great pictures with nice depth of field. Most of my photos are of my kids, so a lot of close ups and vacation shots, both in bright light and indoors.
Summary: I have a pocket point-and-shoot and wanted to upgrade. My wife and I use zoom on about half our shots. I saw the NEX-5 (with pancake lens) had digital zoom and realize you loose resolution when you digitally zoom.
Summary: ----Update on 2nd July 2013---- I lowered the stars from four to two. I find the build quality of SONY is becoming worse and worse. I have experienced so many problems with SONY cameras and lenses. The NEX-5N has the famous "click" issue when doing video, I got that one returned to Amazon.
Summary: Great service from Amazon; great camera yet still sending out 'clickers'. I ordered a black one and it clicks really loudly when using the movie function; not sure if it is worth taking the risk and ordering another one? :(