I have had pretty much no problems what so ever with this car. My last service was $60 Australian, when I was told "couldn't find any problems, changed the oil filters, here's your keys".
Suspension is firm. I like that, because it doesn't roll. However, if that's not you then you should look at the Golf.
In Australia, the price difference between Golf and Polo is not much. Polo is a brilliant Car, but consider Golf when looking.
In Australia, the stereo that they ship is rubbish. I replaced it with Pioneer. I recommend putting 6x9's on the back shelf, because the boot radiates the bass out in a truly remarkable way. The shape of the car makes a good stereo sound great.
Build quality internally and externally is unreal. There is a *slight* rattle in the dash, but you have to listen for it (took me months to notice it)
They are hard to fit car alarms to. This is because the central locking is run on a vacuum, and apparently (according to the guy who installed it) makes it much harder.
Models shipped to Australia were spec'd down. Ie. Stereo in them is cheap rubbish, drums for rear breaks, no immobiliser (I added this with the alarm), no alloys (I added these too).
Looks fantastic with a good set of 13" alloys.
Fun to drive. Drives well on highway, although on long trips on bumpy roads, you do notice the stiff suspension. But hey, the suspension is part of the fun of the car :-)