I got the Nex5 because the nex3 was not out on the first day when I bought it.
If you ask me, the Nex3 offers best bang for buck. Better still if you buy it in HK!
The performance and IQ is exactly the same as the Nex5. To me the AVCHD is not a deal breaker. 720p is good enough for most use and use lesser disk space too.
And the body does not feel any bigger. As for the grip, it does visually look bad but when I held nightwolf's Nex3 it feels very comfortable. You need to hold it for yourself to see if you are ok with the grip. I have no problems with it.
So my recommendation is to get the Nex3 if you want to get the nex camera.
and save money!
