I've had this car for 6 months now and think its a joy. Smooth ride, great gas mileage (averaging combination city and highway about 35) and awesome looks. I've heard the Camry is having a lot of quality control issues lately but the Corolla (at least this bodystyle) has been bulletproof. As for the engine...yes its a 1.8 4cylinder but I installed a k&N air filter and it greatly increased the power. I think the acceleration is fine and you almost forget you're in a 4. If you want anything faster, get a 3.5 V6 in the Camry! The 1.8 is a great combination of gas mileage and performance...for those that don't know its the same engine Toyota puts in the Celica GT (2000-2005).
Exterior design...awesome ground effects, alloy wheels, sunroof. interior is like what a sport sedan should be. Chrome accents are nice, and I do think the white gauges are the best!
Seating position can be a little better, and although the factory 6 CD stereo is great, I would have liked the JBL top of the line version....maybe I can get one at Toyota.