I'm going to review this from a real world perspective, from someone who wants to capture instant memories in high quality, without having to become an expert.
Having owned the Nex-5, Canon G9 and numerous other good cameras I wanted a camera that was ultra-portable, flip screen, wifi, gps and very high quality photos for a new baby.
This camera nearly fits the bill, it has an astounding amount of features and manual functions for the more accomplished photographer.
However, for point and shooters out there I've noticed the autofocus is slow and inaccurate resulting in many blurry photos. Switch to manual and you get crisp very high quality shots. But the trade off is this is fiddly and slow to focus manually, meaning either blurred or missed shots.
The wifi is sadly very mixed. To share or transfer photos is easy, but to remote control the camera is slow and it drops connections on an iPhone 5 with the PlayMemories app. Group shots are impossible as everyone gets bored before you can get a stable connection and take a photo.
Sony are slow to update the accompanying ios app, even though the reviews slam how poor and clunky it is (2.5 stars average as of today).
For me GPS is a big deal, I like looking back at photos by location. One can only assume it's not as big a deal for everyone enough to make Sony include it. So I'm not knocking off stars for it.
Overall this is an awesome camera for it's size, with a spec list as long as a phone book. In the real world, for me at least, it is too slow and/or too inaccurate to focus sharply on some moving objects like kids, and the wifi remote functionality is terrible.