If you're looking for a great value in a P&S digicam don't wait too much longer to check this out. B&H still has the black V1 and 10-30mm f/3.5-5.6VR zoom deal for $299, with free shipping, through the end of December 2012. I received one as a Christmas gift and am very pleased*. If you're thinking of something like the Coolpix P7700, reconsider the V1 before deciding. And forget all of that stuff about "Oh, the Nikon Series 1 won't last" blah-blah-blah. Think of it as a top notch compact/P&S and don't worry about the "system". Best value anywhere in the compact/P&S niche. Seriously. Even at the $349 price elsewhere online for the J1 and V1 it's still an outstanding value. While the P7700 is a very appealing compact digicam the V1 offers the larger CX sensor (it really matters above ISO 400) and blistering speed. The P7700 offers a much better set of external control features and a pop-up flash. (Nikon: put the two together. The P7700 form factor plus the CX sensor and V1 speed would be a killer compact.) My needs and wish list was fairly short and specific: Must be quick. I cannot tolerate slowpoke AF or shutter response. Must have some form of stabilization to offset my increasingly shaky hands. Should weigh no more than 1 lb. Other than that I wasn't particular about sensor format, flash capability or even size and weight. Any P&S or compact digicam is small and light enough to suit my needs, and the V1 slides in jussst barely under the weight limit, with lens and battery. By any standard for the P&S or compact digicam class, the V1 is rip snortin' fast. AF and shutter response are excellent, even compared with some dSLRs. Frame rate and buffer lag is acceptable - it's not on par with my D2H, but still good enough for a P&S/compact digicam. The lens-based Nikkor VR works great. I absolutely need this now for available light photography to offset my wobbly paws. I also have a Ricoh GX100 P&S digicam with sensor-based anti-shake and, much as I like the little Ricohs, the sensor-based stabilization is useless in my paws. I had a 24-120/3.5-5.6 VR Nikkor for my D2H and stupidly sold the lens. Dumb. For shutter speeds under 1/125th, VR is a blessing to me. Now I can shoot as slow as 1/4 sec. and still get reasonably sharp pix, as long as the subject doesn't move. The V1 is no pocket camera - no way, unless you wear one of those shoplifter trench coats. It feels kinda chunky and funky. I'll probably add one of those aftermarket stick-on finger grip doodads. But I'm content with the GX100 as a pocket camera. The V1 fills the niche formerly occupied by my D2H, which I haven't carried in more than two years due to chronic back and neck pain and weakness. And the CX sensor produces better files than the D2H DX sensor - far better at ISO 1600-3200. If you don't mind sacrificing total control to the V1's very good auto-everything mode, it's the world's best bargain in a P&S digicam at $300. Or if you don't mind menu surfing and odd controls to get fully manual exposure control, it's still a darned good buy. Also, the shutter release button feels great. Despite being nearly flush mounted, it has a great two-stage feel for take-up and follow through. Works well even with thin gloves. The secondary button for movie mode may be a little more difficult to manage with thin gloves. *The one and only concern I had was the packaging from B&H. Unusual for B&H, the Nikon box containing the kit was placed loosely inside a UPS shipping carton with about 1 inch of play all around - no padding to cushion the Nikon product box. It slid around loosely with rather alarming thunks. Also, the V1 body was cushioned only by an envelope of that very thin white flexible foam. The lens was better padded in the same type of thin white foam plus a good layer of bubble wrap. However the Nikon box was undamaged and the camera and lens were fine, so it's moot. The V1 feels like a very tough camera. But I'll admit I'd have felt better if they'd just stuffed a couple of wads of newspaper inside the UPS shipping carton. Again, this is atypical for B&H, which in the past has always shipped my stuff with plenty of padding. Maybe the holiday rush was a factor - it was ordered on Friday the 21st (too late for next day delivery) and arrived Monday midday.