We got the Cobalt early May '07, and by late May I have almost 4000 miles on it already and it seems like a pretty decent car. Has some pretty good pep for a 4cyl, fuel economy is great compared to the SUV we traded in for it, however not the 34 mpg that they advertise, still I'm getting around 27mpg. The stereo system cranks good for a stock radio and CD player. We can not fit the whole family in it leagally, or safely for that matter, but that's what the wife's mini-van is for. All in all I'd have to say I'd give it a thumbs up, lets see what breaks on it in the first 50K or 100K miles.
Automatic lights! Stereo is pretty good, sounds great and even loud with some heavy bass rock it still sounds great! 27 miles to the gallon, I used to get 12-15 and now I get 23-27!
ABS brakes! Power locks windows and cruise control! Power mirrors would have been great.