Pros: Speed, electricity, tight handling
Cons: A/C kills range
I had the pleasure of test driving one of the road models of this car in LA during the auto show. It was surprisingly fast and handled very well. I guess the biggest mainstream criticisms are that it's small, expensive (about $40k), has a short range (80-100 miles), and is only available in Japan. Nevertheless, I found the ride appealing and I think it's a great car to be the first entry from a major manufacturer into this century's electric car game.
You can read more of my review here: http://ecomodder.com/blog/mitsubishi-i-miev-test-drive/