Be Excellent To Each Other

The good:
Easy to install, non-proprietary, works.

I like the application model - seems well thought out.

Plenty of useful things given for "free" in the framework. Rich.

Like the MVC approach to UI.

The bad:
Eclipse. You don't have to use it, but it's clearly Google's preference. Slow and bloated.

Java and all that entails. It's not a bad language, but seriously no first class functions? Meh. I like it about as much as I did ten years ago. Needs work, but could be worse.

Not convinced with the XML UI aspects.

The ugly:
My God the emulator is slow. Go and make a cup of tea while it boots slow.

Conclusion
Could be a lot of fun to develop a few apps in. I don't think Java is the best fit and I'm not sure why everybody is so intent on using XML to describe UI's... but a pretty solid platform so far, even though the emulator is as slow as molasses in a down hill race.