I like it. I am not sure if I am going to buy one for my self, but my wife likes smaller cameras. She thinks the xxD series is to big and heavy. If they only could make smaller lenses it would be great.
Those who have tried it say the ergonomics is very good. Sounds promising.
I'm sure the ergonomics depend on the user. I already find the existing Rebel bodies a little small for my hands and the SL1 is even smaller with an even smaller "grip" section.
Of course for those with smaller hands it might be perfect.
Unfortunately, you can't make lenses for the SL1 any smaller than existing EF-S lenses since they have to cover the same APS-C image sensor and the SL1 has the same flange to sensor spacing as all other EOS DSLRs (44mm). Only the EOS-M allows for a shorter spacing but so far there are only two lenses in the EOS-M mount.