Gary,
The good and bad are pretty much what we already know about Yamaha, as for the ugly - that's gonna be tough. It's pretty now that it's black, and although the buttons are a little tough to see, I fixed that with some white nail polish.

So ... the good:
1. As always - Yamaha ease of use. Simple, graceful navigation of most menu items
2. Sounds are lovely, as are most in the current wave of arrangers (and tablets etc)
3. Styles are very practical and generic - easy to use in a variety of settings. I always liked that about Yammy styles
4. Bang for the buck - a Yamaha tradition, from motorcycles to clarinets and everywhere in between

the bad:
1. the key action. (still too mushy and short throw for my comfort) I know many like the soft feel, but it's more than that - even the $99 psrs have a stiffer spring in them .... I think this need addressing. Yamah felt that the Tyros deserved a better action - why not the psr lineup?
2. buttons are kind of camo in the dark
3. SMF player lets you select the "next" song without affecting the current one playing - the MP3 section goes right to the next song selected - confusing sometimes.
4. Time for a touch screen - everyone else is doing it - one of these days, I'm bound to put my finger right through the screen! lol
5. VH2 is WAY better than before, but still not up to the TC stuff. It better for LH chord triggers (as intended) but less than stellar in RH vocoder mode. Still, it's usable now for RH players like myself ... and anyone who likes to turn the effect on/off mid sylable. It used to hiccup with the footswitch, but they fixed that.
6. lacks a contrast control for viewing angle - not a deal breaker, but it can get annoying

the ugly:
if there IS an ugly ... it's just the flimsy, cheap plastic case. I expect it will not handle even the softest bumps without showing scratches.