I was a little concerned about buying this for my daughter, since she has been around real horses recently and spent time at a pony camp last summer. I thought she might not be impressed by a motorized pony. I was completely wrong - she absolutely loves this toy and has played with it non-stop since Christmas morning. I realize now that I should have given her this pony rather than let Santa deliver it; all I heard Christmas day was how great Santa is.
My only complaint is that while the cloth around the neck zips to to the body of the pony in a secure manner, the fabric is very loose right around the pony's neck, and you can easily feel the structural support for the pony's head. I can understand that this was done to minimize resistance on the motor and make the head more mobile, but unfortunately little girls like to hug ponies right around the neck, and I would think that this spoils the illusion a bit. It doesn't seem to bother my daughter, though.
I compare the value of this toy to the Barbie motorized Jeep my daughter got for her 6th birthday. They cost about the same, but in the few days since Christmas, the pony has already been played with more than the Jeep has been in two years My one fear is that the pony will not prove to be durable, but so far I have no indication that it is anything other than a great toy.