Pros :
Unibody Construction (Excellent Build Quality) <--- looks better than Defy.
Bigger 1520 mah Battery <--- same as Defy
Bluetooth 3.0 <--- will it work with BT 2.0 headset or share data at 3.0 rate with other 2.0 mobile? NO.
Front Facing Camera <--- IMPORTANT (for some).
Android 2.3 <--- only only those who don't want to void warranty.
Latest Sense UI <--- if Android wasn't enough battery hungry, here comes his friend.
Physical Camera Shutter Key <--- IMPORTANT
512 MB Ram <--- Defy has same.
Cons :
Smaller 3.4" Screen <--- not that small. but mobile is unnecessary long.
480 x 320 pixels only <--- a 15k mobile with a crappy screen
answered in red.
Chuck spice,Go for Defy its the more reliable option and frankly its worth it with the amazing custom roms and dev support.
OFFTOPIC
BTW my spidysense feels some new phones will be entering the market soon...no new phones seem to be flooding the low-mid range lately. Its the calm before a storm.
Any idea when ka-el will showcase?