If you know what you're getting this car is perfect. It's a simply built car with just the right standard features (except cruise control). If you can live with a high-revving cruise speed ie. 3000 rpm @ 60 mph, 4000 rpm @ 80 mph, then you'll be fine. After 103,000 miles these are my findings: 40,000 mi: New tires: Yokohama Avid TRZs so they'll last longer than the terrible stock tires. 80,000 mi: new brake pads and rotors. 100,000 mi: new front right wheel bearing. So overall, not so bad. I've heard the bearings are a weakness on the car, but one per 100K? I think I can live with that.
Gas mileage, reliability, looks pretty good, no timing belt to worry about. Overall I like almost everything about the car.
The Corolla's 1.8L engine would have been nice, gets great mileage but a slightly bigger motor. A 6-sp transmission would alleviate the highway revs, but drive the price up. Tolerance to run on E-85 (85% ethanol fuel). obvious ones: moonroof, cruise control, etc.