I have used this phone for one week.
Pros:
1) Nice Battery Backup.
2) Premium look.
3) Touch experience is very good as always.
4) Camera(front+ Back) is remarkably better than other micromax mobiles.
5) No Heating issues.(Obviously it will get heated if you play games of size around 100+mb).
6) You can install all your apps in internal memory.
7) Inbuilt Battery Saver function works great.
8) Great Feature at very low cost
Cons:
1) Headphone audio quality is not that good.
2) You can not move apps to SD card.(But internal 4gb available out of 8gb is enough I guess for apps installations)
3) Lock Screen related setting is missing.(Please let me know if some one founds this)
4) Notification toggle manual setting is missing.(Please let me know if some one founds this)