I can't say that this candy is perfect, but I can tell you that it's pretty darn close. I'll tell you in a few sentences why it's not perfect, but I think you deserve to hear why this candy is amazing first. The first thing I have to say about this candy is that it could have gone so very wrong. You can't just fill an M&M with any amount or type of caramel and go home for the night if you're the research and development people at Mars. You have to understand how the filling works with the chocolate and candy coating. You have to understand the texture of the filling, the flavour, and the proportion of filling to add. This candy hits every single mark almost perfectly. In fact, I would say that the texture and proportion are perfect.
This leads me, as promised, to point out the one slight flaw in this candy, and that's the taste. While it tasted great, I think the caramel could have had a slightly stronger flavour. It wasn't so weak that it disappeared, but the chocolate layer (found between the candy layer and the caramel center) overpowered the caramel just a little bit. While the flavour was nice, I think it would have been better if the caramel dominated just a little bit more.
For the most part the folks at Mars do a good job with their variations, some hit much better than others, this one certainly does hit. It stays true to the original candy, yet changes it enough to be something different. Best of all it pulls this off and is still really fun to eat.