I've had this jersey for one season's use and recently decided to get another one since I liked it so much.
First of all the fit is nice, it is not overly baggy or too tight. Size medium fits me well. (I'm 5'10" and 170 pounds). The collar and cuffs are not too tight or loose, both of which are deal-breakers for me in a jersey. The quality of the fabric is excellent - lightweight yet tough like a jersey should be, not prone to snags like some fabrics out there. Maybe the best thing about this jersey is the mesh fabric on the back and under half of the sleeves. The extra breathability comes in handy on hot days.
A couple of small details might go unnoticed at first glance. On the drop tail of the jersey there is a rubber TLD logo attached in case you are a shirt tucker and don't want it slipping out. Also, on the elbows there is a stitched area that has an extra layer of fabric. It will do nothing as far as protection to your body goes, but it may keep the jersey from tearing a huge hole if you land on that area. Other than that the TLD SE jersey is pretty straightforward - no pockets, no hidden wipe cloth for goggles, which is fine by me.
Over the years, TLD jerseys have been known to be a bit bold in the colors and graphics department. The more subdued styles as of late are nice if you're not into having a purple cyclops shooting neon laser beams on your shirt.
Just a head's up if you ride frequently in mud - the perforated back panel of some of the color options of the jersey is white. There are other versions of the SE jersey that don't have the white back panel and will hide stains better.
Overall the jersey keeps you well ventilated and it looks good. I really can't think of anything that would make it better so my vote is 5 stars.