Great build quality. Very sturdy in your hand. Great screen. Photos are great as well. Cons: Still the early days for this format, so buyer beware. Also, the speed between shots was incredibly slow, so this will definitely annoy those who have used SLRs before.
Small, comfortable. You don't come to resent carrying it. Built-in Flash. Has a satisfying weight to it. 20mm lens is great. Takes impressive video and great photos. Cons: JPG photo colours are a bit dull (B&W is nice, but for colour, shoot in Raw). No image stabilizer in camera. No accelerometer in camera. Pricier lenses.