Well my friend didn't purchase the Galaxy R, but I did play with the device for half an hour or so. Not bad, not bad at all. I kept a Galaxy S Plus and Galaxy R together and played the same video on each of them, there was not much visible difference in S Plus' Superb Amoled display and R's Super Clear LCD. Getting a dual core processor at this price is pretty good. The only let down was the build quality, not bad, but it wasn't the greatest either. I posted a tweet (link below) yesterday which mentions the devices I tried. Out of all of them, Galaxy R had the most poor build quality. Even though it was the poorest, it wasn't bad at all. Don't consider this as a reason to not buy the phone.
I had recorded the video where I played two same videos on Galaxy S Plus and Galaxy R. My friend wanted to show it to his dad. Deleted it now. Had I remembered that I had to reply back here, I would certainly have posted it. :apologetic:
Overall, at this price point I personally feel that the Galaxy R is the best piece available. And I think it's going to get the ICS update too. I'm not sure about it but I guess I read it somewhere on the internet that Galaxy R will get ICS. If someone can confirm that it's getting the ICS updated, then purchase this device without any hesitations.