I have been using this device extensively for the last 4 days & here's my impression so far ....
a) Camera - Just superb!! Awesome quality pictures & the best thing is it takes photos instantly without any time-delay whatsoever. Also when I zoom in on objects in the photo it does not get grainy. I really love the camera plus the stock effects & options go beyond expectations.
b) Sound Quality - Supplied ear-phone's output quality is rocking but it's not in-ear (disappointed about that) and it's too big for ears. SRS works magic added to that there is superb EQ on the stock music player. Speaker output quality is good but not loud enough.
c) Battery Backup - You will need to charge every night. I game (30 mins), surf (30 mins), download & use apps (1 hour), watch videos (45 mins), listen to music (3 hours), Social netowrk (thorough-out the day = 3 hours) after that when I return home in the night around 9:30 I am left with 25-30% battery (not exaggerating). I thinks that's good enough for a 3.7" android phone with 400x800 resolution S-LCD display. I am sure it'll get better after 20-22 times of full charges. But I am satisfied!
d) Gaming experience - superb, I have been playing games which were not available for my former phone LG Optimus One P500 and I have never faced any lags ever.
e) Grip of Death - I use Wi-Fi a lot with the phone & never faced any problem & also no problem with dropped calls or network bar drops.
After a month long usage I might be able to find some cons for the phone, then I will definitely share. So far it's a rocker! I am glad I chose this over so many other devices.