Sony aren't doing the VAT cashback anymore but this pricedrop makes the price pretty reasonable !
It seems like a great time to buy the Nex 5 with the 2 lenses as it's exactly the same price as the best price NEX 3 with the 2 lenses. Here are the price comparisons on camerapricebuster for the set. http://camerapricebuster.co.uk/prod1367.html
A bit of blurb from the description.
"The NEX-5 really wins where it matters. Firstly its contrast-detection Quick AF Live View system is pretty much as good as they get. It's not as advanced as a DSLR, yet it is miles beyond what a compact camera could offer. Secondly the image quality is exceptional, certainly class-leading when lined up against its competition and would hands-down give a lot of DSLR cameras a serious run for their money - even ISO 12,800 produces useable image quality."