I've had mine for a week, and after playing with it I have to say it works great for us! Just a little background, I have had the Gear 360, and the Theta S. The Gear360 and the Theta S both had different problems so we had to return these (Gear360 was out of focus when using it on a hot day) and the ThetaS was never able to connect via wifi even after resetting, and doingeverything we could.) The Insta360 has not had any trouble with taking photos or video and the stitch is very good. Photos seem pretty sharp for our needs, and the video is slightly better than the Theta, but not as sharp as the 4k Gear360 (when it worked).
The only major gripe I have is there is about a 1 second delay from pressing the shutter to a photo taken and there's no audible feedback. I'm sure these can be addressed with a firmware update. Would dock off a half star if I could for this, but will give the benefit of the doubt.
The software itself is very good overall with just a few quirks that I think will get ironed out with firmware/software updates.. surprisingly decent for a 1.0 product.
Wishlist: 1) accessories (selfie stick, or mini tripod, or something...) 2) ability to do a 330 degree mode (sometimes the photographer doesn't want to be in the shot ;) 3) using the device horizontally, the review of the photo behavior is strange to navigate 4) Adjustments to the photo/video (color, contrast, bright, etc) 5) Export video/photo as seen in the viewer (eg. I want a little planet export view but people not to change it when they view)