My main hangup with the NEX 5 is the lack of lens options. Amin's test photo's on this sight show clearly the NEX image quality at various ISOs, but since I have already a GF1 and a GH1 with pancake lenses, I would want the NEX 5 to have something more than the 16 and 18-55, and it does not help that the latter lens gets such mixed reviews. I saw an 18-200 for the NEX on Adorama but it is out of stock. Have you tried that lens? As for "ugly," I tend to think of the NEX 5 as odd looking, but charming in its own strange way. I am getting ready for a trip to Costa Rica in late May and want to travel light. I have Nikon DSLRs with a compliment of lenses but would love to find a way to travel lighter without sacrificing the chance to deliver some fine images to my stock agent when I return. I have been counting on the X100 for a lot of street shooting there, but will need more versatility of lens lengths to go with that (assuming the X100 is delivered in time). Even my D7000 with three or four lenses is seeming too much luggage for my wishes on this trip. When I traveled to Argentina as a much younger man I took a heavy bag of SLRs, lenses and a lot of film, but as I have aged I have changed thinking about lugging all that equipment.