Bought this camera as an alternative to taking my Canon 5D to South America (and probably losing it - to the muggers!).
For the money, I'm amazed.
Yes, it eats batteries - but a set of 2700MAh rechargeable AA's soon tamed it.
Metering can be fooled sometimes, so check your shots / re-meter elsewhere (to avoid bleached out backgrounds).
Focus can be a tad 'soft' in places too (dependant upon lighting / contrast in scene).
On-board 'stitching' is very nice - and generally works VERY well - occasionally it 'botches' it though.
Other 'scene' modes also very good / useful
Video quality is also Very Good.
In hindsight, for comparitively little outlay, you get:
Great 'stitched' panoramas (although shame it does not save individual frames for 'home' corrective work).
and it fits fairly well in your pocket!
I took about 900 photos and about 80 videos over 2 weeks using this camera - and 90% satisfied with those results.