First impressions are very positive, feels much more solid (and expensive) than any of the previous 3 budget cams I've used (MV400i, JVC DF470, MV850i). Much better image quality than the MV850i that I have just returned as I wasn't impressed with it at all, there isn't so much grain and the auto-focus is instant, the MV850i had slow auto-focus and always seemed out of focus when used indoors with just a few lights on filming the kids but not the MVX200i
As for True 16:9 I'm not sure. When you turn it ON the image you see is indeed a little bit wider (maybe 10-15%) but the height of the image (visible pixels) is also reduced by 10-15% - is this true 16:9? I was expecting letterbox bands of black but not the number of visible pixels in height to reduce!
BTW, there's much less motor noise recorded than with the MV850i so that's another bonus also!
So far I'm very happy, for £199 it really is a bargain, have fun