Quite good image, minimal noise from the fan. It doesn't seem to have the issue with focus once the plastics warm up, like the first generation of the same projector did, but it does have an important little issue that I find unbelievable it escaped Xiaomi's attention.
There is no option to adjust the image (brightness, color, contrast, etc.) while playing a video. You have to stop the video, go to the main menu, make the adjustments, and of course, you adjust them randomly since you don't have anything playing in the background as a reference.
The first generation had this option with a long press of the middle button on the ring. I imagine it's an update issue, but I consider it significant. If someone knows something I don't, please inform me.
Other than that, it's a projector that is worth its money in terms of image quality (up to 1080p), sound, and size. The brightness is very good in a dark room with nice black but with slightly washed-out colors under lights, of course, with 500 lumens.