I recently had an extended test drive of a Corolla LE while shopping for a new car for my wife. I found the car well built, well designed and had good visibility. It feels very well put together.The engine and transmission work very well together and I cannot see a need for any more gears than it has, especially when one considers the market targeted. It drives well, has plenty of torque and I am sure it will be very economical to run. There are many features that the majority of buyers will love, such as smart key, auto climate control and stability control. The price was good and Toyota is really ready to deal, look for $1500 off sticker and you will most probably get it.
What I didn't like was the car was barely large enough for me, with a 34" inseam. The steering was lifeless. While it drives very well, it is not in any way entertaining to drive. You just don't get involved in it. It wasn't the car for us so we bought a Civic instead, which is a much more entertaining ride, with better interior room to boot. While it lacked the doo-dads, I am not confident that smart key is something I would want after the warranty expires, so I will not miss it.
That said, I see tons of these things on the road driven by moms taking their kids to school and doing their daily errands. There are scads of 2009+ Corollas parked in my urban neighbourhood. For someone who wants safe, economical, reliable and reasonably cheap transportation, the Corolla would suit them perfectly. And that is what a Corolla has always been about because like 90% of car buyers don't even know what a G-force is.