Xiaomi Mi3: 250 USD India Launch - Worth buying?

I guess at 250 USD - the Xiaomi Mi3 - having 5 inch 1080p display, Snapdragon 800 and 3000 mAh battery is a great bargain. To add to this list there is a decent enough camera and Aluminium construction.

BUT - how is the MIUI v5 experience? Being spoilt by stock android experience in Moto and Nexus devices with timely updates and Android L just around the corner - MIUI looks like a tough sell.

Any users of MIUI please help. Also, is it possible to get a CM 11 port or other ROMs with near stock experience for Mi3? Please help. At this price the hardware is a steal!