It is unfortunate that camera owners don't confirm what firmware versions have before they update. I received my V2 the second week of December 2012 and it already had the lens firmware ver. 1.10 loaded. We all need be be more observant to avoid problems.
Happy New Year....JL
________________________________________ 45+ years of Nikon ownership and counting Visit my SmugMug gallery
Either V is head and shoulders above the Coolpix. The best buy is really the V1 for it's price - it's a steal. Pair it with the 30-110 CX with ED and VR, you will be stunned by the IQ coming out of that lens. Small and fast, that's what characterizes the Nikon 1 series.
I was able to get a new V1 kit with 10-30mm for $350!!! This is on sale at Henry's at $200 off till Sept 28th. I tried the V2 in-store and it is easier to hold than the J1 that they also had but the bulkiness is what I'm trying avoid. They did have the flash unit, a 5 and 7? I think. Quite a bit difference in size and output, but worth the extra cost, I think for those situations requiring its use. I'll have 15 days to "practice" before I can return it or keep it.
I think it'll be nice to just "pocket" all the time, over carrying the D7000 and lenses.
I was very impressed by the V1 with the 20mm pancake. Not so pleased with the 30-110. I absolutely hated the fact you had to wait for the image preview to clear before taking another shot. So when the V2 came along and I learned you could avoid image preview I went for it. Should have thought twice, the base ISO went from 100 to 160 and subsequent ISOs were more noisy than I would have liked. In the trade-up I lost the 20mm (it was part of the kit) and gained the 10-30mm. I will admit I am very picky and spoiled by my years of Nikon film cameras the d70, d7000 and 7100. I wanted the V2 for street and a walk around but it has not been as good as the V1 with the 20mm. I have the Ft1, a dx 35mm lens and other things I have tried it works well and sometimes the quality is very good, but its finicky. I am hoping Nikon steps up with a better mirrorless or a D400, so I can trade in my V2.
I am sure that many will and have liked the V2, but I find it hard to use for street and for the nature photography I like to do.
Have you investigated the Coolpix A that Darryl has asked for input on? I just don't know about a fixed lens, these days. I'm so used to the 18-200mm on my D7000.
I'm not stuck on getting the V1, but I think the image quality will be better that the completely flat cameras that the competitors are peddling with 24X power etc,etc. I've also considered the Fuji X series, but again fixed lens and way more $$$.
I'm always surprised at the competency of the V1, with and without using the FT-1 adaptor for AF-S lenses. I really enjoy pairing it with my 70-300mm VR and 16-35mm f4. The only drawback to me and this where the market has to sort itself out, is with the EVF. In truth I find it's not much of an improvement on my old Minolta Dynax 7 from 2001. However, I have tried the Olypmus OMD and find that far more satisfactory. This is only my personal opinion, but I use live view mostly and certainly when on a tripod.
Currently, one gets an enormously capable camera at a price which is way short of what the cameras worth in quality. The FT-1 continues to reside in Nikon rip off territory, but I do enjoy the flexibility of using the AF-S lenses. The kit lenses are no slouches either providing wholly acceptable imagery.
For the money it's bang on the mark and I can't ever see me buying a V2. However, technology will advance and some day soon we'll all be talking mirrorless
As an aside, I am amazed at the quality my new Coolpix P7700 delivers, even at full zoom. So much so that it's relegated my D7100 to 3rd in line status as a take anywhere camera. It certainly equals my V1. The added bonus is that my wife has become very interested in photography since she started useing the P7700. There's a lot of very competent kit out there at low prices.