Toyota's long-awaited compact is finally here. Well, sort of. The 2009 Corolla is still a long way from showroom adulation and Toyota has yet to offer a full rundown of the new model. And while the company did give us a fair taste, the day we get the complete list of specs can not get here soon enough.

Of all the noted automakers, Toyota is the last to redesign its legendary compact. Conversely, Honda made its move last year, giving the Civic a bumper-to-bumper makeover. In that year, Toyota put the finishing touches on Corolla before unveiling the redesigned variant on October 31, 2007 at the Specialty Equipment Market Association Show (SEMA).

The tenth generation model of the world's best selling car makes appropriate leaps in design, but manages to retain Corolla's unmistakable form. While Honda's design team went for broke, giving the Civic avant-garde edges, a polarized dash and digital instrumentation, the new Corolla's inner and outer beauty set a more subtle and comfortably familiar tone.

The compact also makes headway on the tech side. The new Corolla will finally do away with the "boing!", tucking away its antenna in-glass. The base model will also get the XM Satellite Radio and an MP3 Jack. Moving on up are the LE, S and XLE models, the later of which will come equipped with an in-cabin Bluetooth environment, Navigation System, 8-speaker JBL audio, steering wheel controls and optitron instrument gauges.

Of course the biggest difference between the '09 Corolla and its predecessors will manifest itself in the XRS edition, which will be powered by Camry's 2.4L 158-horsepower powerplant - the largest ever for Corolla. Meanwhile, the rest of the models will get the aptly confident, fuel-sipping 1.8L VVT-i, rated at 132 hp and 128 lb-ft of torque.

Here is the bottom line. (In lieu of offering raw spec data I have to resort to making practical predictions). The larger 2009 Corolla will be the most luxurious, spacious and refined yet. It will also offer substantial improvements in safety and remain the most reliable vehicle on the face of the earth. Potential buyers, however, will have to contend with the higher MSRP, where the difference is likely to amount to $800-$1,400. Will it be worth it? Until Honda starts offering serious rebates for its insanely overpriced Civic -- most definitely.