Hi All,
I have been using this phone for a month and here is my Pros and Cons about Mi 5
Goods:
1. Very good build and design.
2. Best processor and GPU capable of running any kind of games and apps.
3. 3 GB ram For smooth multitasking.
4. 16 MP rear camera with PDAF, OIS and 4K video recording.
5. 4 MP front camera with full HD video recording.
6. Good battery backup.
7. All essential connectivity features including 4G LTE.
8. Dual sim support .
9. All essential sensors including compass, fingerprint and gyroscope.
10. 5.15 inch HD IPS screen covered by gorilla glass 4.
11. USB type c support.
Bads:
*. No micro sd card support.
*. Non user removable battery.
*. Not water-resistant like moto g.

The phone is looking so good and sleek which is instantly likeable - it has unbelievably thin bezels, a sharp edges, curved back and a lightweight body.
It has a very bright display with vivid and crisp colours, and the viewing angles quite good. Its very light-wight and easy to hold. You will feel the comfort when you hold it.
The device performance is quite good and challenging all the high end models. I did gaming, multi-tasking and Facebook endlessly, The device handle it very well, but the heating issues are still flare up little bit, especially when you are gaming for a long time.
The fingerprint scanner is working good without any issues either and unlocking the phone quickly.
The phone has no memory card slot, so you can't hold much data unless you are picking a 64GB model.
And there is no FM radio too.