Not having to turn the flash off every time I open up the lens is enough to make me not use the Stylus for stealth street work. I use my Canonet for that. The exposure program is also kinda wonky and opens up the lens a lot which has its ups and downs. You really need to be shooting fast film and have good light to get it to stop down.

Having said all that, I like the little thing. A lot. It's the camera I have with me all the time because it's tiny, the lens is nice, the auto focus is an active IR so it focuses well in near-dark, it's fairly quiet, and I like the 35mm focal length a lot. Plus it autoloads, reads DX and though I wish you could set ISO in the absence of DX instead of defaulting to ISO 100, it gave me the "opportunity" to learn to work with Delta 100. And the spotmeter is just tasty.

If wishes were fishes I'd hack the firmware and change a few things, but back to the original question of slr vs stylus. The main advantage of an SLR is that you see what you're going to shoot. The viewfinder of the stylus isn't very accurate, you get no DOF preview whatsoever (keep that f2.8 lens in mind), and you never really know where it's focusing until you see the negs. With a manual SLR, you do get to see what you're shooting, you see the focus, and on some slrs you get DOF preview.

I got my stylus for $40 refurbed from Olympus on eBay and I'll be sad the day it dies. I paid about 10 times that much for my F5 and I expect it to outlive me.

Also keep in mind the "horses for courses" idea that some cameras are better suited for some tasks than others. What do you intend to shoot with the Stylus?