I bought my Cobalt Coupe LS XFE in March of 2010, and am still very impressed.
The fuel economy is incredible (I average 31 to 34, and this is mostly around-town driving.)
The ride is smooth, the seats are comfortable, and the trunk is huge.
The interior lacks some style (my gray interior is very bland), though the center stack buttons are laid out in a very efficient and easy-to-use fashion.
Considering it's a 2-door, front- and side-visibility are very good, but rear view is blocked by the giant trunk's lid.
The headlights are decent.
Many people complain about it's reliability, but proper maintenance eliminates most of those problems.
I have had none.