Well, I don't own the Fit yet, but I intend to make it my next new car
purchase, after having read numerous reviews and having taken the manual
trans Fit Sport for a test drive.  However, in case you have not read the
article in Consumer Reports, I will tell you that the Fit (especially the
manual trans.) is recommended in their annual April Automobile issue.  Among
other accolades, it was judged as one of the "top picks of 2007,"  and one
of the "best vehicles under $25,000."  Every year, Consumer Reports surveys
their subscribers (who are original owners of cars purchased new) on 16
different categories of reliability.  For 2007, the Fit received the highest
recommendation: "much better than average," in 15 of the 16 categories.  The
only exception was for "body hardware," and that received an "average."
Quite impressive for the most inexpensive of the "best vehicles under
$25,000.00, don't you think?

If you have already have read this article, my apology for telling you
something you already know.

Robert A. Cunningham

I have a FIT Base Model with 5 speed so it's not exactly the same
model but close.  I bought mine in late April 2006 and I have 16,500
miles on it now.  So far the reliability has been fine.  I have had no
mechanical repairs at all.  I did hit a deer in Jan 2007 so it was in
the shop for body work for about a week.  But, even after that, it's
fine.

Likes:
Economy: 40 to 44 mpg on dual lane highway/moderate traffic

Handling: good for what it is.  (see dislikes below).  Does well with
country roads highways.  It is lightweight so expect to get bumped
around a bit by the wind.  

Interior Features: pretty comfortable for my 6ft/200 lb frame and my 1
hour commute each way to work.  Radio is ok though I wish I had a CD
changer (see dislike below).  Hatchback, folding seats work great.
Suprising amount of room in back seat for passengers.

Engine: suprisingly tuned for torque if you can believe it.  Not as
high strung as some Honda engines are.  Moves out pretty good for a
1.5 L.

Dislikes:
Brakes: not a linear feel at all.  Almost too grabby or however you
want to describe it.  Very hard to smoothly and consistently brake the
car.

Rear wiper: needs an intermitent setting.  It's either on or off which
is a bit of overkill here.

Wheels/Tires: nitpicking here but I'd like 15 inch alloy wheels and
nice tires on the base model please.  This thing has wheel covers.
Come on Honda!

Radio reception: is terrible.  Not sure if it's the little black
antenna on the roof or the actual radio itself.  I'm told "they all do
it" so whatever....

You'll love the sport model since it has cruise control and the
upgraded radio.  Otherwise, everything else is the same as my base
model.