I have been using this phone for more than 5 months now, I must say I am very much satisfied with its performance. I still have not faced a lag or a glitch. Network and wifi reception are standard, call sound quality is as expected standard.
The main feature would be the intel atom 1.6 ghz processor with Hyper threading technology. Also, the phone has 1gb Ram at your disposal and a 400 MHz graphics unit so you can also play those heavy games available on the play store :D. Plus you get a 16gb internal storage out of which you control 10 gb of the space which is more than enough for a mobile device, rest of the space is system controlled but you can choose to install applications in that memory as well. Also, you can not expand the memory via SD card, but that is not much of a disadvantage considering the 16gb internal storage available.
The phone got its ICS upgrade about 4 months ago but its ginger bread was still good enough. I upgraded to ICS almost imeediately though out of curiosity and was happy with they had to offer in the upgrade.
The main camera is 8mp and has a small front cam for video calls which is good enough to make a video call without unnecessary pixelations. The main cam is standard nothing special, it is good enough to take random pics, which would be the scene in almost all cases.
Music sound quality is good, also the stock headphones are good enough.The battery backup is good as compared to other andriod phones in this range. It will last you upto 24 hrs with normal usage and 12 hrs if you are having a bit higher than normal use, with exceedingly heavy use it will last only 8 hrs.
The phone design is a good bar shape and has good grip, it will not fall of your hands. The back is a rubbery grip which helps the phone to stick on your desk so that it does not slide here and there. The screen is made of gorilla glass.
Major set backs for this phone:
1. Hard keys given for camera are really hard, as in really really hard. I havent found a way to use the hard camera key on the side while taking photos, but the screen has a capture button so it wont matter after a while.
2. The pre-dominant intel processor heating issue comes like hereditary with this phone. While playing excessively processor and GPU intensive 3d games the phone gets heated up.
So, overall it is a solid buy.
I would recommend Intel phones, not because of "Intel inside" but because of the price-performance ratio and value for money.