Like all cameras, it's a mixed bag. Mostly good.
First off, the real lowball reviews of this camera here sound like cranks without substantial or real-world basis. The focus guy just goes on and on about tangential issues (a zoom lens isn't necessarily inferior to a prime and doesn't force 'high ISO making photos look bland') and was never able to prove any of his problems on the forum with his weird videos. The fact is, CDAF will never be spot-on 100% of the time in low light or against non-constrasting subject areas.
Anyway, I got my NX200 last month, and it's proven to be mostly quite an upgrade to my one year old NX100. Fast AF, very sharp high resolution 20MP images, good color, great JPEG at base ISO and solid noise performance up to ISO-3200. Slightly better per pixel than the NX100 and corrected for resolution, competes well with the best APS-C models like the NEX-5N or Pentax K-5. With Lightroom or other good luma/chroma noise reducer, there's no disadvantage to going with the NX200 at all. High ISO JPEGs suffer from poor noise processing though, and at 6400 or above and NR turned on, RAW files receive the same treatment.
Form factor is quite excellent, sleek magnesium shell with the same NX dual control wheel configuration plus iFunction ring on supported lenses. Ergonomics and EV adjustment are quite good in this regard. It's hard to imagine cameras like this pack big DSLR sensors, but the NX200 definitely has the goods there with the upgraded sensor unique to the NX line, whereas the old sensor was the same as that found in the Pentax K-7.
The AMOLED screen is quite bright and effective in all but bright sunlight and the 8x image focus zoom aids manual lens use (especially handy if you use adapted vintage lenses like I do). AF is quite accurate, faster than prior models and while there's no nice sophisticated multi cross point action like with higher end DSLR models, it seems to work fine for most applications. I can only fool it when I have point center focus on a wide expanse of nothing and CDAF can't lock.
Samsung has been fairly good with expanding their NX lens lineup. The NX200 can be had with the 18-55mm OIS stabilized kit lens or the more compact-able 20-50mm non-OIS. I find the sharpness of the latter a bit better, but the OIS, overall feel and noise levels favor the 18-55.
In all, a very capable mirrorless 'compact' with a ton of image quality potential with the right glass and a little know-how with RAW files.
PROS:
* Great ergonomics and controls with a dial, a wheel and iFunction lenses.
* Sleek black housing has a good feel with better grip than NX100 and a thumb rest.
* Good JPEGs at base ISO, excellent RAW quality up to ISO-3200 with NR off. Solid sensor upgrade from before.
* Large bright AMOLED screen with 8x image magnification for MF assist.
* Comes with surprisingly adequate hotshoe folding mini flash.
* Can now be had for under $600.
* Much improved video quality, reduced rolling shutter from prior models.
CONS:
* Expensive at launch, little PR or marketing done by Samsung, hard to find.
* Slow RAW processing, a full burst at max FPS can take 20-30 seconds with a fast SD. 1/2 FPS including processing of RAW, on average.
* Poor JPEG noise handling above ISO-400.
* No swivel or flip screen.
* No option for EVF.
* No option for remote shutter control or live view feed/control from PC.
* No external mic port.