An excellent camera with a few major faults:
The obvious one - theres no optical zoom. If you look through the viewfinder, and your subject is only taking up a tiny fraction of the display, YOU're the one that's going to have to physically move yourself closer to the subject. The camera cannot do the zooming-in for you.
And secondly, the shutter speed is far too slow. Trust me, you cannot take photos of, say, people dancing. All you'll get is a blur.
Oh, and why Fuji neglected to include the AC Adapter as part of the package is beyond me. Supplying two rechargeable batteries, which take about 13 hours to charge simply isn't on...
That aside, it is a good little camera. TV-Out is more of a gimmic than something you'll use regularly, as the pictures look very fuzzy, even on a decent TV. And it's very very easy to use, and produces very good photos.
But personally, I'd think twice about going for this camera over, say, the Canon Ixus V.