Well you can't always believe 'reviews' I've used one a few times, borrowed, and image quality is very good, exposure and colour accuracy are, IMHO pretty darned good, build quality and 'feel' much better than a lot of other similar. Only thing lacking is a viewfinder, again, my opinion.
You are correct, the early reviews slated it due to it's terrible autofocus system and it's price (about£750.00 I think).
Canon addressed this with a firmware update which improved the situation to make it whilst not class leading fully acceptable (see updated review by Digital Rev TV amongst others).
I bought mine with the 22-55 lens and EOS adaptor for £245.00 and find that I am not only delighted with the results but use it more and more due it light weight. Whilst the lack of a viewfinder in a major fault I use an old "Russian turret" one which I have marked to approximate various zoom lens settings for when I need to frame in bright light.
I have been really pleased with mine, paid £149 from currys and it's fantastic for the price, easy to carry around and easy to use, really like the touch screen feature of being able to touch to set focus point and take the pic at the same time. Mine came with the updated firmware and af speed is fine. Going to see if I can find the adapter locally as at £39 it's a bargain.