Summary: It is what it is.
Comment: I don't know that I like my Diana as much as I like my Holga (I'm not keen on the Diana's design where the film spools are concerned; it has a nasty habit of tearing the film instead of advancing it), but as cheap medium-format cameras go, it's pretty good. The Diana, like most fixed-focus cameras, tends to prefer portrait work. Its primary advantage, other than price, is its appearance: It's a cute, silly little thing that breaks down people's inhibitions and makes even the most camera-shy subjects laugh, which makes it perfect for taking lively, spontaneous environmental portraits. I can think of three or four people I've been dying to photograph who will probably give up and let me shoot a frame or two if I break out my funny little toy camera at the right moment.
Those who are not familiar with the Diana should be aware that this camera should not be used as your "daily driver." It's notorious for vignetting, soft focus, light leaks, and a thousand other flaws that occasionally conspire to make gorgeous, artsy images but usually just waste film and frustrate you. I wouldn't use my Diana to shoot a wedding or a graduation ... but I keep it in the car for those rare moments when a soft, moody, slightly-out-of-focus shot might be appropriate.
One thing Lomography really needs to do to improve this product is to ditch the enclosed book. Nice idea, but the execution leaves something to be desired, and it has the added disadvantage of being printed on glossy paper ... in vibrant process color ... with a hard cover ... which drives up the printing costs (and thus the retail price of the package). Offer the book and the camera separately. That way, if I want to buy two or three more Dianas, I don't have to waste money -- and resources -- on additional copies of a book I'm just going to throw away.
Bottom line: If you're interested in the kitsch factor, buy the Diana. If you just want a cheap medium-format camera to experiment with, buy a Holga and pocket the other $25.

