I love the clean, crispness of medium format but sometimes I miss the ease and speed of 35mm. I'm an idiot and always think I'm 'done' with a camera and sell it on and then 6 months later miss it. I did that with my little Leica r5 and don't really have the funds to replace it at the minute so I got myself an Olympus MJUi (aka Stylus) to keep me occupied.
I read a lot of reviews, which mostly said to wait and invest in a MJU ii (Stylus Epic) but to be honest, I can't fault this one at all and it's considerably cheaper than the MJU ii. £100 odd seems a bit steep for a point and shoot. I paid £40 for mine and even that felt a bit much, considering my OM10 was around that and I got some amazing stuff out of that (see here).
A big pro is the shutter and auto wind are pretty much silent. Good for creepy shooters like myself. The only real con I feel, is that every time you open the camera up (which turns it on) your settings are reset and you have to manually turn the auto flash off. Obviously if you forget it won't go off unless it needs to use it, but if I'm taking a street shot which happens to be a little dark and the flash goes off it could be a awkward.
Apart from that, money well spent. If you can get one for a good price, go for it. Here's the best of my first roll...