For being in the learning mode? Yeah, I'm pretty happy - fairly easy to use, affordable, seems to be robust. Battery life is an issue. I have he wi-fi remote, as well as the iphone app, but the battery will crap out in less than 30 minutes using Wifi. I see Sporty's is selling a battery that piggyback's on to the back of the camera with a back cover for the waterproof case. I'll look at getting that soon, as I'd really like to use the app (has a good preview capability that let's you see on the iphone what the camera is seeing.
As far as the mode that blanks out the camera settings for exposure/WB etc, that's the same as shooting RAW on your DSLR. Pretty much all I shoot with my Nikons, but it does require extensive fix in post-processing. For the most part, the camera does OK with setting exposures and auto WB, given the fact that it's pretty much a "dumb" point and shoot.
Couple that with the fact that I'll use it on the boat this summer to get some in-water shots of big halibuts coming to the boat (and they will come - I told them to

), I don't think you can beat this camera for performance for the $$. My $.02, and it may not be worth that!