Pros: Fast
Great Screen
Decent Web cam quality
Good battery life
touch screen

Cons: Windows 8.1
No backlight on keyboard
Glare at certain angles

Other Thoughts: So this laptop was to replace my 6 year old laptop so the increase in processing speed form my old laptop is a vast improvement.
The 15" screen I think is actually a bit bigger than I thought and makes using the laptop in tablet form a little bit awkward. going one size down might have been the better option.
The screen looks really great, however, when using the tablet form there is a glare at certain angles. I bought this at a great deal from Newegg. The next model up that had a back lit keyboard and better anti glare screen was an extra $200 bucks and I did not think it was worth it for me.
The laptop comes preloaded with Windows 8.1 which I am not a big fan of but after a few minutes it was easy enough to maneuver through it. If it came with Windows 7 I think it would be a much better system.
I use the laptop for web surfing keeping word and excel documents and Skype calling. So far I have had it for a month and it has excelled at all the activities I need the laptop to complete.
Some reviews mentioned a lot of noise from the hard drive, I have not experienced that issue.
If you are looking for a cheap 2 in 1 and you are ok with being 2 to 3 models behind I would recommend this laptop.

Pros: Price and features: responsive touchscreen, a decent amount of RAM and a decent processor. It's hefty but that lends to a solid feel. The only flimsy part is that plastic gap filler in the hinge that's between the screen and base.

Cons: Upgradeability: Even though the internals are like any other normal laptops (including a 2.5" hdd bay and standard laptop RAM) according to Asus, just opening the case will void the warranty. Which is a pity as the machine's performance is more then mediocre for Windows 8.1 standards and would greatly benefit from an SSD. Also of note is that most machines have a Void Warranty sticker on one of the screws holding the hard drive in place. Opening the case isn't hard either with only a few screws to take out, you can use your finger nail or a thin screwdriver to pop the bottom lid off.

Other Thoughts: Sadly you can't find too many reviews of this machine. I'm not a professional reviewer so take mine with a grain of salt. Frankly I'm being generous by giving this machine a 4/5 eggs. The price is competitive with top tier manufacturers, but do not buy it at or around MSRP. For that price, you can buy a Lenovo Yoga 3.