I ordered a V1 and should get it tomorrow. I also pre-ordered the SB-N7 flash because the N5 seems hopelessly underpowered. I usually shoot with a D800 and SB-910, so I don't know how this new flash will perform. However, given the totally different markets for a V1 vs. a D800, I'm not expecting anything really sophisticated. That's ok, though, because I don't expect the V1 to compare with the D800. My objective with the V1 is to get good image quality at medium resolution under favorable circumstances without carrying around six pounds of body and glass. I'll let you know how the new speedlight works out after I've had a chance to play with it.