+ great Camera
+ great build quality, waterproof
+ great overall product design
+ "It's a Sony" > everything just works, I was very happy with all my previous Xperia phones.
+ great screen > 5.2" 1920x1080, beware it's not the brightest one
+ stereo speakers
+ excellent battery stamina reported by many users
+ has FM radio, which I use everyday
+ good language support, comes with ISO 8859-11 thai font (see white paper p.13) to many this is way more important than the cpu, Samsung removes it in distant markets, rendering the phone almost unusable for Thais)
+ built in hardware is top notch (same as the other flagship phones)
+ Noise canceling feature indeed works, but makes headphones a tad bit heavier
+ good value for money, CHF 699 or €582 launch price
+ good the Android UI hasn't been revamped to the max
+ fancy notification light
+ you can set the display's white balance!
+ the smart band receives good critics and might be interesting to you
- the noise cancelling head phones do not have a remote button to pick and end phone calls! Very annoying on the bike. Noise canceling does work, but not on the bike, doubles the wind sound :-( doh
- no IR to directly control your home media
- some folks don't like the touch feeling, when fingers meet the loading dock contacts
- touch feeling at device edges not super smooth due to overlapping frame, to protect the glass. Can't be further described, go and touch the thing in the shop.