More initial impressions:
The camera is really dinky feeling. I handed it to my gf and asked her to guess how much it costs. She first said $5, I said something to the effect of 'no, really', she said $20.
The sliding lens/vf cover moves roughly. For $430 this should be smooooth and precise, clicking into place. Instead it feels like something, eventually, will break. Not saying it would, just feels that way.
The rear cover has a little latch which actually pops open surprisingly well, has nice light seals, and snaps closed nice and tight. The lens/VF cover should feel like this.
The scale focussing lever is easy to use, and what is very cool is the lens is the equivalent of a 21mm lens for 35mm film. This feature, with the auto program exposure, really does make it stand out in the MF field. I cannot think of any other camera that would compare to this. let alone a new one. I'm looking forward to seeing how the lens performs.
Just when you think I'm getting too cozy with the Lomo, more bad stuff... The shutter button may quite honestly be the worst I have ever tried. Even worse than those on disposable one time use 35mm cameras (remember those?). It is a very long, rough, tough squeeze before the shutter finally fires. It feels like you really are fighting against a spring rate chosen more for suspending a Yugo than working a camera. As a bonus, about half way through the travel, the camera emits a faint electrical buzzing/whine. If you want to replicate it, plug in your toaster and hold down the bread lever against the stop. It buzzes like that (but a little fainter).
At least there is a satisfying 'SPROING!' sound when the shutter finally fires. A normal, well adjusted person would object to that part, but a Fuji GW690 III owner would find that quite normal. And Zebedee would love it.
Thing is, it just doesn't feel like it would stand up to many cycles. Time will tell.
A cool feature - it has a multi exposure switch - and as the shutter self cocks (must be that bed spring in it) you can fire as many shots as you want w/o advancing the film.
Film speeds are set with a tiny wheel on the left front of the camera, with the numbers shown in a tiny window. Downside - it only offers it in 'full' steps with no way to set anything in between. So you got your 100 speed setting, then 200, then 400, then 800..
A bit of a bummer seeing that some of my films are rated at ISOs 125 and 160. This also means that any attempt at manually over-riding the program exposure would be limited to full stop values.
A final observation for now - the camera has a hot shoe, but it does not seem to work correctly. I was in suitably dim conditions and both flash units that I tried (a Leica SF24 and a Metx CS 32 which work perfectly on all my other cameras across multiple brands) fired way after the shutter released. Take a shot, delay, exposure complete, flash fires. I did this without any film in the camera, but that would not make any difference as there is no flash metering system built into the camera. The flash goes off if the low speed light in the VF (one of two red leds - the other is a battery check led that always lights when you squeeze on the shutter) is activated.
That's it for now.