I installed this stereo in my Volvo S40 and it's great. It has all the features you need. Connecting/Pairing your phone to the stereo is really easy and the quality of the microphone is great for making those hands free phone calls. No more need for a separate bluetooth headset or fiddling about with a hands free earphone/mic combination.
The radio reception so far is fine as is the CD functionality. The ability to quickly browse to a station with the navigation wheel is a very nice touch as there are not very many buttons, 90% of user input coming from the large navigation wheel which works really well.
99% of my music are on USB sticks and they work fine through the included USB cable. The browsing functionality of folders of whatever is on your USB is really easy to use similar to that of the radio stations but with more levels i.e. folder name --> MP3 files. It can also display a few different combinations whilst the tracks are being played such as Album + Track, Artist + Album, Artist + Track etc.
I have also tried it with my IPOD Touch and again you can browse through the contents of your IPOD without any issues. I didn't have not have issues with shuffling as the previous reviewer has.
It also has an included little remote which is a nice touch. Oh and, yes it looks really cool particularly during night time driving.
My only real gripe is that it doesn't have any real security features i.e. you cannot remove the faceplate or neither does it have a card or code that is required for it to power on. Apart from this, high Pioneer standards, 5 Stars !!