My Ford Taurus died on me and I was shopping around for a midsized sedan with good gas mileage. I researched and test drove a Versa, Corolla, Elantra, and Spectra. Although I could get in an Elantra and Spectra for a bit cheaper, I went with the Versa because we liked it so much after test drive. Much better leg room in the rear (compared to the other cars) and a very comfy ride. The Versa handles very well, is fun to drive, and looks quite sporty (mine is red). We really like the extra features of the SL model (since we have 2 small boys). So far, I've gotten excellent MPG. I also qualified for a "green" loan from my Credit Union, due to the combined MPG of the Versa being over 29 MPG.
Smooth-quiet ride, comfortable seats, great MPG, roomy (doesn't feel like you're in a smaller car), great trunk space, sporty...etc.
The only thing that even comes close to a complaint would be with the front head rests. I think they are angled down a bit too much. But I understand they are that way for optimal safety settings.