Yup, finally replaced my broken Xbox last night. Decided to go with the Kinect combo pack because with my brother's discount, it was like getting Kinect for $20.
So what do I think of Kinect? Well...it's kind of cool. As of now it lags about half a second, but you get used to it quickly. It has plenty of potential, but I don't see it ever replacing the classic controller like some people at Microsoft hope it will; it's more of a compliment to the controller than anything else. I'll give Microsoft credit for trying something new rather than making a high-end Wii knockoff like Playstation Move seems to be.
The Kinect camera itself seems to be well built - it has two regular cameras for the 3D vision and an infrared camera as well. The image is clear - much clearer than the Live Vision Camera (complete waste of money in my opinion.) The Kinect camera also works very well in low-light conditions - it's infrared camera probably has something to do with it. The camera also has a built in motor so it can turn, tilt, and generally follow you when you move around. I haven't set up facial recognition yet simply because I don't have the time, so I have no comment on that.
Kinect comes with "Kinect Adventures", and while I haven't had time to play it much, it's pretty much Kinect's version of Wii Sports; fun at first, but gets boring after a while. It's free with every Kinect though, so I won't complain about it. I also don't yet have the free time to make any more Kinect game purchases worth it at this time, so no comment on those either.
Overall, I feel that Kinect was worth $20, maybe even $100, but I personally wouldn't pay $150 for it when I can get perfectly fine motion controls on the Wii. Am I satisfied? Sure, for now at least.
Not yet sure if I'll be able to post another review this week, but I'll post something for your entertainment if I can't.