Thanks for the in-depth review, Gordon.
I love my V1. I love it so much that I sold my GH2 and LX5 and use the V1 in place of both of those. The GH2 was nice, but it was still too big to be my 'small' camera. I have a D700 as well, but I've been looking for a really nice small camera that makes good video and photos for awhile now and I finally found one that I'm very happy with...the Nikon V1. As others have said, the 30-110 lens is excellent and very small. The VR in the 10-30 and 30-110 lenses is wonderful.
I wish Nikon would give us a firmware update that would allow me to setup a personalized menu for quicker access to commonly used settings. Other than that, there's not much that I don't like about it. The image quality is great. It's not the same quality as my D700 or even the GH2 (but it's not too far off from the GH2).
My V1 gallery is here (My personal photo site):
http://www.openbloom.com/GEAR-Etc-1/Nik ... 888_Nn5D4F