Assessment
The Sony R1 is a very difficult camera to rate. In essence, it is a fixed lens digital camera, one with a larger than normal sensor and an unusual design. Nevertheless, it mostly has advantages and disadvantages normally found on fixed lens digital cameras - but not those found on DSLR cameras. As such, it is an excellent camera for its great image quality, wide angle lens and battery life.
The main problem with the Sony R1 is its price. It is significantly more expensive than its competitors. Even the Fuji Finepix S9000 does not have as much detail and resolution as the Sony R1, but it does produce less noise at most ISO sensitivities - at a much lower cost. The list of cons for the R1 may be long but the majority of those cons are not significant problems. Mainly the overall handling of the camera leaves a lot to be desired.
If one were to rate the Sony R1 as an SLR tough, it would probably be average - and you still can't change the lens! Its pretty obvious actually, the R1 produces more image noise, is slower and much less ergonomic than even the cheapest SLR. For high-quality images on a budget, it would most likely be preferable to get an 8 megapixel Canon Digital Rebel XT or a 6 megapixel Pentax *ist DS with a good lens. The total price may exceed that of the Sony R1, but the handling of those cameras will provide a much more rewarding experience.
Unfortunately, the Sony R1 has a few more minor flaws. First, it does not have a movie mode as is common with other fixed lens models. Second, it has quite a few design problems which cause its handling to be quite awkward (see reviews listed above). Finally, the camera does not come with a charger, therefore it wont be usable while recharging its battery.

