I just got it a couple days ago. It's a good system for the price, just be aware that you will most likely want to add options such as a webcam and bluetooth. I opted for the 900p screen upgrade, which makes things a lot sharper and is not offered by many manufacturers. Using a DisplayLink adapter, I can also hook it up to 2 external monitors.
-Allows you to customize so you get what you want and not what you don't need
-Windows 7 Release Candidate works well, except the Dell Quickset drivers (shows onscreen volume/brightness/media when you adjust) still aren't working properly. Likely a future fix though.
-Good US keyboard layout for Canada (not crummy bilingual keyboard with short enter key)
-Not too heavy for a 15", decent build quality
-Simple, clean design
-NO INDICATOR LIGHTS: No light for HDD, wifi, bluetooth, caps lock, etc. What was Dell thinking? But I installed a HDD indicator on my taskbar called DriveGLEAM which does the job in a pinch. Good thinking on my part...
-F keys (F1, F2...) don't work unless you hold the Fn key first. An easy fix in the bios, reverse it so they work as normal.
-colors cost extra: Seems like a cash grab, only get it if you REALLY like a certain color. Black is good enough for me.
-No HDMI port: They should at least offer it as a video upgrade, too bad it's not an option.
-No eSATA/firewire: Although they make ones that fit in the ExpressCard slot, which I may buy later.
-For the size, they probably could have fit a number pad beside the keyboard, but not a big deal.
Overall it's a good budget laptop, which allows you to customize with what you need (except HDMI). The lack of a HDD indicator light can be disconcerting, but this can be somewhat remedied (see above). Not perfect but good for the price, although I would get the Studio 15 if I had more cash. That one seems to have all the advantages and less disadvantages than this one.