I own this phone and its awesome.
Spice offers great build quality, premium looking devices at reasonable prices. And also has great sound quality and can play high resolution videos as well.
I opted for Spice 506 when I looked at it first and I didnt think twice. I am using it for almost 2years and had no lags, issues using this device.
Camera is a bit concern however it still manages to capture ok. My phone once fell from 2nd floor and hit hard on bike and still it had no performance issues or screen breakup.just minors scratches.And even post 6mnths of fall the phone is working flawlessly.I feel lucky to have this phone.