Redmi 2 Prime is what gives the term VFM meaning. Not that Redmi1s and Redmi 2 were not VFM but this one takes it to whole new level offering 2GB RAM with 16 GB onboard storage, dual-sim 4G connectivity and 64-bit chipset.
Ordered the product on 10-Aug under the exchange scheme and 10% cashback with Citibank card and got the product delivered today much ahead of the expected delivery date(19th Aug). So good job flipkart.
Being an Mi3 user, I can say this product will definitely meet a regular users expectation easily.
It has the Snapdragon 410, which I know for sure is one of the better mid-range chipset from Qualcomm unlike the 615 which has heating issues. No doubt why may OEMs are going for this chipset for their mid-range 4G handset offerings.
It is very power efficient(great battery life) and the audio DAC it comes with gives very good sound output through the head-phones. I have tested the sound quality myself with the Rightmark Audio Analyzer and believe me its great. You can refer to the Redmi 2 review on gsmarena.com for a word on its sound quality.
I cant say this about my Mi3(Snapdragon 800) in which the frequency response which has a cutoff at bass frequencies.
In a days use, I have not come across any drawbacks and hope it stays that way.
To summarize, I can only say go for it if you want something under 7K! Its totally worth it.