My observations are also similar to the ones mentioned by 2kool2btrue. He provides a very in depth review. Some IMP points to consider based on my observations:
1) The camera is the only serious let down. There is too much pixelation/noise in very well lit shots too. Don't even ask about dark shots as it does not have flash.
2) The sound quality through speaker/headphones is above average. I used Soundmagic IEM for testing and not the ones which came with phone. I found it even better than Samsung android phones like Galaxy Y/Ace.
3) UI is with minimal alterations to the stock android, so overall responsive. I don't know if this is issue specific to my piece, the capacitive touch buttons require a long touch than just a touch to get them activated.
4) 3G reception is also above average. Download speeds are quite good using Vodafone 3G. The general issue (at least I have seen it with many phones owned by me/friends/relatives) of not switching back to 3G immediately after being back to a 3G coverage area does exist. It remains in 2G for a considerable amount of time.
5) Battery life is also good considering this is a dual SIM mobile. I am using 2 SIM and getting 2 days on medium usage.
6) Able to run almost all the applications I wanted to use till date. Also games like temple run, angry birds etc. run smoothly. Never used graphics intensive games till date so no idea about it.
So overall it is a very good phone and real VFM. Got is for 4425 from HS18. In this range you only get some Nokia Asha series phones or some very basic feature phones.