I consulted one of my friend who had bought this phone. He said that this phone has a bug. It cannot access the SIM contacts without copying it to the phone memory. I tried calling a SIM contact number but it didnt display the name. This is a BIG bug in the phone. The sec cam can only be used for video calling.It has a good feature of showing a list of numbers that starts with the numbers that you start dialling. This was not there in other high end phones that I owned before. It is a great phone for less price and still get a 3G feature.
Updated [5-Feb-2010]:
I updated the firmware and found that many of the features that I expected popped up :-). Now I can access the SIM contacts from the menu items. I can create groups for sending the SMS.
The battery life is the only issue that I see now other than that it is a gr8 phone now after upgrading the firmware.
Becareful when upgrading the firmware. All the data in the phone will be erased (phone numbers, SMS, installed applications or games. So backup the data and only then update the phone. But you will need buy a USB data cable which doesnt come with the package.