It's a "good" camera, anyway it's better in a lot of way than the Instax 100, 200 and 210.
I have one and got it early on when I realised that I was going to shoot a lot of Instax pictures. It cost me an arm and a leg but it was worth it. I bought mine in japan with the website http://www.jauce.com/
They offer acces to people living outside Japan to the N°1 auction site in Japan (more popular than ebay) which is Yahoo Auction Japan.
So with all the extra cost like customs and international shipping it cost me around 150 euros. It's in mint condition and works like a charm.
It has an AF with minimum focus at 60 cm (2feet), a three elements retracting lens that makes it slimer than the others Instax camera (it's still bulky as hell), three flash mode : flash, anti red eye flash and NOFLASH (it's the only Instax camera that has a flash you can turn off), there is also a standard screw tripod mount under the camera and auto extraction of the darkslide. Other than that it works like any other Instax camera.
It's expensive in most cases but if you like Instax format, it's a good investement.