What I liked:
Very good photo quality (though see issues below)
12X zoom lens with optical image stabilization
Blazing performance (except for focusing speeds, which are just average)
Full manual controls
Awesome movie mode: VGA resolution (30 fps), stereo sound, zoom ability, wind screen, selectable audio quality/level
Great continuous shooting mode
Flip-out, rotating 1.8’’ LCD display; LCD (and EVF too) is visible in low light
AF-assist l good low light focusing
0 cm macro mode for ultra close-ups
Handy shortcut button and custom spot on mode dial
Time lapse photography feature
Unique My Colors feature (though it’s only available in one automatic shooting mode)
Excellent battery life
USB 2.0 High Speed support
Optional conversion lenses and external slave flash
Impressive software bundle; camera can be controlled from your Mac or PC
What I didn’t care for:
Images a little too sharp; a few were a tad overexposed
Movie mode file size limit arrives quickly
Some redeye
No live histogram in record mode (still!)
Plastic tripod mount (hey I’m only complaining because it used to be metal)
RAW support, manual focus ring would’ve been nice
Tiny memory card, crappy lens cap, and throwaway batteries included with camera