I owned one for 5 years, servicing every 3 months. In that time:
1. Need to replace cat converter ($1,200). 2. Need to replace IMA ($2,700). 3. Need to replace transmission ($2,200). 4. Need to replace flywheel. 5. Wheels randomly seize up almost causing an accident. Dealer doesn't know why ($100 diagnostic). 6. Need to replace engine ($3,800). 7. Need to replace transmission ($2,200). 8. Need to replace IMA again ($2,800). 9. Need to replace wiring ($550).
Used/aftermarket parts are hard or impossible to find. 2 of 3 dealers had extremely poor workmanship (I was a mechanic). Car never lasted more than 3 months w/o something breaking, and every part on it is EXPENSIVE.
When everything was working properly, it averaged 60mpg in 50/50 city/highway driving.
Even with the IMA out, it still averaged 40mpg.
Honda dealers that hire qualified mechanics, not screwups.
Seats don't go down, extremely uncomfortable on road trips.
I purchased the CVT and have not regretted the purchase at all. I get an average of 52 mpg in LA with stop/go/AC. The car had 80,000 existing miles but Honda's extended warranty (150K) for the battery as well as the Honda Care extended warranty (7yr/100K) has taken care of any concerns. I enjoy the car so much that I will be selling my other car because I no longer drive it. Looking forward to the release of the 2009 Insight.