I think for the most part that I agree with most of the pros and cons that have been discussed in this thread. As always, much of this is subjective and based on the experience and expectations of the user. The NEX series at this point is definitely targeted to the move up audience vs. an experienced user moving down or seeking a backup or second and smaller platform.
After shooting over 1,000 images, the single biggest negative I found with my NEX 5 was that while there were a couple sweet spots on both the 18-55mm and 16mm lenses that really output great images in favorable conditions, they were not consistent and often too soft for my taste. I found importing into Aperture 3 that the raw in-processed image even without any post processing was better than the imported jpeg (I shot both). Users who have or are willing to purchase decent legacy lenses or invest in the Sony adapter for their A series lenses will probably see much better IQ. Of course that all comes as an added cost as the S series lenses are not cheap nor is the Sony A series adapter.
The tilt screen is great and the LCD is one of the best I have seen. I had little trouble seeing it outside and that was without using a special outdoor boost setting that can be chosen to improve visibility in bright outdoor conditions. I had no issues with the interface now that the update allowed assigning other functions to a couple of the buttons and controls. The APS-C sensor is expectedly good but its implementation in the NEX is held back by the (imho) less than stellar lenses. I also had a chance to try out in the store the Sony 18-200mm on the NEX 5 and found it in my opinion to be almost ridiculously too much for the small body although some might not mind it. You just have to hold that set-up like a telescope.
I was on the fence about whether I was going to stay with the NEX5 but that decision was made for me at least for the time being when my unit developed a problem with the ISO where it would go up to 12800 no matter what aperture I chose and would stick there until I power cycled the unit off an on again. I went back to my local camera store to exchange it and they were out of stock, had no idea when they were getting in more, so I got a refund. Overall, I can't help but feeling that it is a good start for the NEX line that should get better with time and a little more tweaking, but for now it seems for the price you should expect a little more.