I think it looks lovely! I'd debadge it though and get the bonnet filled so people didn't know it was a Skoda though 
I had similar thoughts... about 15 years ago when my Dad threatened to get one.
I now have the previous model of Octavia to this and think it's great. Interior is just as good quality as any of the VWs I've been in.
Granted it's not a direct competitor for the Golf GTI, given that it's a bigger saloon or estate rather than a hatchback, but it would certainly be a contender if you were looking for a new fast-ish car in the £20-25k bracket.
You do get a lot more space in the Octavia than the Golf, but it's slightly smaller than the Passat. So if you have a family or you're a business driver, the Octavia makes a lot of sense.
