I love mine! I bought it because I wanted a SAO P226.
Pros:
Runs like a raped ape. I can do a mag dump at 10 yards and keep every round in a paper plate (with some practice).
Very accurate. This is the most accurate pistol I own.
Trigger is awesome.
Good ergonomics. The pistol points very well for me, and is well balanced. The controls are very natural for me.
Cons:
Holster availability. Blade tech makes a holster, and I have a safariland 6005 on order that I'm hoping will let me run my X-Five with a x300 light for classes. It looks like this is improving now that safariland will make them.
I have heard of stubborn extractor issues online, but I have not experienced them myself. I know as of 2010 a new extractor was in the works and Bruce Gray was working on a solution for the problem pistols as well. This is of course "Internet knowledge" as my X-Five tactical has run like a top from day one. Due to that, I haven't researched whether or not those with problems found permanent solutions. I'm considering buying a second myself as the round count on my first one climbs.
Here are my pics that I've whored out a bit:
18 round mag at 10 yards slow fire: