So that's the end of that.
Except that now Camcorderinfo.com has reviewed the NEX-5, and while they also are disappointed with the lack of manual controls, they were somewhat impressed by how well it did with it's automatic settings:
The NEX-5 has some of the best auto controls we've seen on a video-capable DSLR. Its continual autofocus is quiet and fast, and its auto exposure system works surprisingly well. In contrast, however, the camera has very little to offer in terms of manual controls when shooting video.I wouldn't buy the NEX-5 for its video capabilities, but if you're looking for a still camera that also does video, it might be worth considering.
And if you're looking for a non-video oriented review, check out Imaging Resources extensive article.
Camcorderinfo.com: Sony Alpha NEX-5 DSLR Camera Review
Imaging Resources: Sony Alpha NEX-5
DPReview.com: Sony NEX-5/3
B & H: Sony Alpha NEX-5 w/18-55mm Lens $699.99