Test drove an SEL today. The one with the rear disc brakes. Let me start off by saying that the car looks better in person. Secondly the materials are less than what we are used to, but not as cheap as a some other bottom wrung vehicles. Thirdly, the lack of independent rear (IRS) was the first driving dynamic that hit me as a mistake by VW. It drives like a pickup over bumps.
More interior space. The trunk seems to still provide lots of usable space, despite the trunk hinges.
The small turning radius is still there. The 2.5 engine seems decent for what it is. The brakes have a nice sure grippy feel. Some of the dash information could be a larger font.
The people coming from the 'basic commuter' Cam/Cord crowd will love it.
IMO, other VW people may not warm up to it. And this is the SEL mind you.
The mechanics will like the lack of complicated parts to try and fix.
The purist will miss not having the technical stuff that put the Jetta ahead of the pack.
I suggest that you test drive one and see if the trade-offs fit into your expectations of what the NEW REPLACEMENT Jetta should provide. The yet released TDI should be better in terms of zip, but with the lack of IRS, would still ride like an F-150. I think the GLI will be the one to wait for, and we'll see how they end up building that.
They SHOULD make the SEL better in terms of equipment choice and hold over goodies, if someone is going to purchase the top of the line.
Malibu, Cruze, Fusion, Sonata, Sonata turbo, Sonata hybrid, Kizashi and a few others come to mind as serious alternatives, now that the Jetta has come down a notch.
Mazda is also coming out with their diesel for 2012 as well.
This is going to be a good fight.