Hey! You should know that Nikon has released a newer version of this product: the Nikon 1 J2.
Nikon's entry into the mirrorless field, the J1 accompanies the V1 as compact alternatives to Sony and Samsung's bulkier APS-C models. The 1's are modeled around a 2.7x crop sensor (compared to 2x for micro 4/3 and 1.5x for APS-C), which they have branded "CX" format. While in theory a smaller sensor means worse image quality, the 1's actually hold up very well at higher ISOs. The 10 megapixel sensors capture noticeably less detail than the latest 16 (or even 24) megapixel sensors, but the resulting tiny lenses perfectly match the camera's small body. Also of note is the autofocus system, which competes with the best of those available and, when it was announced, was the fastest money could buy in good light. The J1 is probably the better buy of the two, but if you absolutely must have a better build and electronic viewfinder, go for the V1.