Basically you can just read what the major reviewers say: it's great. One of the best 7-inch Android tablets you'll find, and one of the cheapest too. Kudos.
A major downside is the smallish and non-expandable storage. (And less content and apps than on iPad.) But otherwise it's mostly upsides: the battery life and speed are top-notch. And amazingly, the screen is actually as good as the iPad 3's, except half the size. Same sharpness and color fidelity.
I've been trying it out as ereader, and chosen difficult subjects, meaning Zinio magazines and full-layout scanned art books where you have to zoom in on the text to read it. (See my article.) And yes, it can be used even for this, at least if you have good eyes or good reading glasses.
The Kindle application is good, it seems to me. Very similar to the iPad's Kindle app. Though both of them suffer from the odd weaknesses of only one font, and too large leaps between text sizes. (I don't get these choices, surely it can't be because these things are hard to program in, for years small-developer apps have had lots of fonts and much finer size separation.)
In short, I'm reminded of an old joke from the early days of the mini-car, 30 years ago: "Oh yes, my new mini car is great. I get great mileage, it's easy to find parking, the taxes are less... In fact, the only downside I can think of is actually that it's so small!"
I am not sure myself what to think of Android. I can figure out most things, but it does not seem as fun or inviting as iOS. Though the latter still has some grave weaknesses, for example it can be very tricky to select text.
Here is an interesting comparison-style review (video) from GeekBeat.tv. I like geekbeat.tv, they are usually entertaining, though their usually short formats prevent all that much crossing. But they find a lot of interesting things.