I haven't had the pleasure of driving the Spectra myself but from what I have heard, it is excellent when it comes to performce like acceleration and top speed etc. Plus, it has all the luxury features of Civic & Corolla and comes at the price of a City & Baleno.
The down side is mileage. From what I hear, the mileage it downright rotten. Further, pasrts availability is also a problem. You will only be able to get parts from the dealers themselves, not from the common market.