At the end of the day, is the reduced bulk of a 3200 (I have a 3100, similar footprint) really going to meet your requirement of an "unobtrusive travel camera?" Granted, it's smaller, but it still occupies more weight than I like, and even with a collection of lenses, it still requires me to use a holster case that sticks out. Compare the Nikon 1 to the D3100 in my above post. Then look at my review gallery. I think it will raise some more interesting questions for you about what it really means to size down. SLRs are still SLRs, even with the smaller bodies (I use a D300 for my main body and previously moved from D1s and D2Hs). To me, I can lose the VF as long as I don't sacrifice AF performance, imaging quality and the ability to switch to different focal lengths without compromising using a superzoom. The J1 fits those items to a T.