I recently bought a NEX5 with the kit zoom lens (18-55) and find it to be a perfect "carry everywhere" supplement to my A900, that can shoot 1080 video. Also, I notice that unlike the intent of Sony, who created this camera for "p&s upgraders", most of the buyers I know about, are users of higher-end dSLRs, than people who upgraded from p&s models.....strange as that seems. I am more of an A-mode shooter and once I switch to the A-mode (via the menu), I am just fine for the whole session (since the apertures can be changed via the dial, as needed, without switching to the menu again), unless I want to switch out of the Auto-ISO mode (ISO 100-1600) and manually switch to a different ISO and if so, then I need to make a couple of button clicks and go to the menu to make the change.
The advantages the NEX has (over the prior such "micro" mirrorless releases) is of course the incredibly small flange-back distance of 18mm (noticeably slimmer than the significantly smaller sensored micro-4/3 products), a mount that is larger than the Full-frame Leica M-mount etc. The upcoming NEX7 is intended to bridge some of the complaints that people have about the NEX3/5, by increasing the body size a bit (to that of a Panasonic GF1), add in the obligatory dials/buttons for direct control over the exposure settings, add in an EVF, add in the in-body stabilization (at the expense of making the body a bit more thicker than the NEX3/5), add in a built-in flash (than have the free flash add-on that Sony provides for the NEX5), bring in 1080P video (than the 1080i that comes on the NEX5) and so on.
PS: Toru Katsumoto, the Senior GM of imaging of Sony, made an interesting statement about the mount being larger than some of the Full-frame mounts like the Leica M etc. He stated that technically it is possible to introduce a FF sensor into the NEX, but that some tweaks will need to happen to the mount, since this particular version of the NEX mount is "optimized for APS-C sensors".
PS1: Masashi Imamura, the president of Sony Imaging and Sound business groups, stated that Carl Zeiss lenses for the NEX format are on the way. Of course it goes without saying that when a manufacturer creates Carl Zeiss lenses for a mount, they don't intend to have it be used on a a body like the NEX3/5, but for much more serious intent on a more pro-oriented body (the Panasonic GF1-sized upcoming NEX7 mentioned above).
PS2: Toru Katsumoto (via an interview in CNET Asia) also stated that their engineers are working on a firmware upgrade to enable AF (via the Alpha to NEX adapter) with the Sony A-mount lenses that contain a built-in ultra-sonic motor (Carl Zeiss 16-35, Carl Zeiss 24-70, Sony 70-300G, Sony 70-200 f/2.8G, Sony 70-400 f/4-5.6G, Sony 300mm f/2.8G etc). Of course one will have to re-adjust the way one uses a camera with such lenses, by handling the combo via the lens than by using the camera body. Either way, shooting 1080 video with such lenses does sound promising. Some users belonging to the Alpha user group in South Africa, did use the NEX5 with Alpha lenses where the AF was functional in the firmware and stated that the AF speed was very usable, unlike say the AF in a dSLR (when in Contrast-Detect/Live-view mode), which is pretty much unusable. The NEX5's AF with Alpha Full-frame lenses was slightly slower than a typical DSLR Phase-Detect system but otherwise fully functional/usable.