I have owned this phone for just about a year, and I do like it a lot. It is my first Sony Ericsson and certainly not my last. This phone offers great value for money with its ample extra features from FM radio to its 3.2 Megapixels camera. However... potential buyers must not assume that its camera produces pictures of a quality equivalent to true digital cameras. I own an actual 3.2 megapixels Cybershot camera (bought in 2004), which produces pictures of a better quality that what the phone camera can produce although the resolution is supposedly the same.
Having said this, I bought the phone to use as a phone... not as a digital camera, and for this I am quite happy with it. The extra office/organizer features such as calendar, notes, tasks, etc. are fully compatible with MS Outlook with which they can be synchronized at the click of a button. This proved to be very useful and something I now use all the time.
The only truly downsides that I have experienced with this phone are the relatively poor original battery life (quite good initially, but rapidly decreased as the months went by), and the cumbersome easily opened-by-accident camera cover. Because of this, I can only give it 4 stars.
As mentioned above, although it is definitely not perfect (nothing is...), I do like this phone quite a bit, and do think it is excellent overall value for money.