Saiyan - The battery life isn't the best , plus the current fw xxxx.162 is buggy and takes a toll on the battery, with heavy use it last for a day.
If you are planning to buy then do not update to the latest fw and that should help, the company will be releasing newer fw and ICS soon and that should fix the errors.
Other than that the phone is nice, performance is good all across with games and apps. However the phone does lags sometimes for a sec (buggy fw) after quitting heavy apps other than that its fine.
Browsing and viewing text is pleasure even at the lowest brightness and in direct sunlight you will not have any trouble viewing the text at full brightness. As crisp as ever.
Music player and other stuff is nice as well, you get 2 gb for apps , 4 gb for storage (internal) and 2 gn for os (reserved), I've added 16gb card so that gives me around 20gb of whopping storage.
Camera is decent nothing outstanding, but in ample light you get good snaps. With some management and efficient usage you can get 1 and half day of battery.
Its a nice overall phone with future os expandability- hopefully Sony will release Jelly Bean for it. Overall I really liked the device, with ICS the performance will go higher since its is more optimized or muticore with hardware acceleration.
if you are into custom rom then there are some mods available right now with rooting available as well, unlocking boot loader is simple as company has open source the boot loader unlocking. Haven't tried rooting and such will give it a try after ICS update and hopefully more roms will follow once ICS starts rolling .
In that budget you won't find any better phone with similar specs.