Ofcoz you can find a lot of better specs device at this price from xolo,karbonn,micromax etc. But sometimes people want to buy a branded product due to fear in quality and service. Xperia M is the perfect budget device for such people.
It comes with a 1GHz Qualcomm Snapdragon S4 dual core processor and 1 GB of ram which is more than enough for your day to day tasks. This is of course not for those who are interested to run high end apps and games. Popular games like Temple Run,Subway Surfers etc can be run without any issues thanks to Adreno 305 GPU inside.
1750mAH battery can easily get you a day of average use with screen on time around 3 hours.
The device is not huge,so one handed operation is comfortable and the 4 inch touchscreen is of a decent resolution (245 ppi).It also comes with a scratch resistant glass. The built quality is good,doesnt look like a cheap device.
Some usual sensors are there - Accelerometer, proximity,and compass. 5 MP camera wont blow your mind,but does the job.
Even though this a budget device from Sony, it was nice of them to include NFC and Bluetooth V4 into this which is very rare in devices at this price range.
Android version is 4.1 which is outdated but still performs well. It comes with Sony's usual customization and software tweaks which offers a better user experience. Xperia M scores around 10000 in Antutu Benchmark, and around 4100 in Quadrant.