Certainly the V2 will print out to 16x12 ins. I know because my friend has recently had two club competition wins with images taken on a V1 and that's only 10 Mp. I have certainly printed at home for 16x12 and the results were comparable to those taken with my D700.
Remember, the D300s/D3s/D700 are about the same in pixels as the V2. As for 23.4 x 16.5ins, that's a big ask. You may get away with it by using a up-sizing software such as OnOne Perfect Resize which I find works well providing the up size is not colossal. See this excellent report by Thom Hogan which lists Mp v Print sizes.