Well, I've had mine for about a week now and think it's a pretty terrific tablet, especially at the price Google set for it (mine is the 16GB version - the 8GB one is also a steal, but I wanted more local storage).
So far (knock on wood) none of the issues that are being raised in several forums have shown up (screens lifting, backlight bleeding, speakers/microphones not working, inconsistent touch function in areas of the screen). I do get very occasional lag after exiting an application or even after mounting it as a drive to copy files over and then disconnecting it - but it doesn't last very long. Other than that the action is very smooth and the whole device feels like something worth at least a couple of hundred more. The Chrome browser also shows lag at times, depending on the site, and that's a complaint I've heard from several people.
I don't miss a camera on the back (I don't know many tablet owners that take photos with their tablets - looks kind of dorky and I have a phone for that if need be), nor the lack of cellular data availability. With close to a hundred applications, a half-dozen movies, and a few hundred MP4 files, I'm not even halfway through the included storage.
Currently using a cheap case like this: Rotating Nexus 7 Case
It works okay, but it makes the tablet bulkier than I'd like (though being able to prop it up in landscape and portrait is nice).
Ordered one of these that is much slimmer and more like the type of cover the iPad has available - but won't be available until near the end of August: Poetic Slim Portfolio
Battery life has been impressive - watched several movies on it back to back a few days ago and hadn't quite gone through 2/3 of the battery. Sound quality is okay, even through the back speaker. There are some very nice games out there to show off the Tegra chip (e.g. Dead Trigger) and Netflix streams very smoothly on it. I also installed Wi-Fi Finder to ensure that I can find a wireless source when I'm out and about if need be. Haven't had much of a chance to play with the offline storage for Google maps, though I presume turn-by-turn directions would not work unless you tethered it to a cell phone, as that requires a network connection for Google maps to perform.
Overall, very impressed and happy with it. I'd rate it a solid 9/10 (minus one for how badly Google underestimated the demand for the 16GB version and the sometimes laggy browser).