Killer specs include: High Sensitivity 10 Megapixel sensor, 1280x720 HD video at 24p and High Dynamic Range (HDR) scene mode.
This is a great semi pro camera that is small enough that you can easily take it with you, whenever you don't want to lug around a heavy and expensive SLR.
The best kept secret is that it can also flash sync at 1/2000 second, which is amazing for a 500 dollar camera. It's bigger brother, the mighty 5D Mark II, is five times more expensive and only syncs at 1/200 second. If you want to shoot outside with strobes during the day, and want to control the sun, there is no better camera at any price.