It looks pretty sweet. Not a huge redesign over the old model, but after about 8 years of having the same model, change is nice.
My brother has a 07 Corolla that drives pretty nice while getting fantastic MPG. If I weren't so in love with the xB when I test drove it, I probably would've gotten a Corolla too. I only paid about 2k more than my brother's Corolla.
I am however intrigued about the XRS trim. It looks fantastic and has the same engine as base Camry and xB. To pack that engine into the small car? Wow.