Hey! You should know that Nikon has released a newer version of this product: the Nikon 1 V3.
The V2 goes a long way toward fixing some of our original complaints about the original model. As the enthusiast camera in the Nikon 1 lineup, the V2 has gained a fuller hand grip, built-in flash, a new mode dial, and another function button. Also important is the jump from 10 megapixels to 14, a welcome move that helps bring the 1's at least a touch closer in resolution to the Sony RX100, which has the same size sensor. Nikon has also seriously upped the processing power on the new model, with the V2 able to pump out 15 images a second. The Motion Snapshot mode has also been lengthened and Nikon has added an additional "Slow View" mode. This takes a burst of images at 40 frames per second, stores them in the buffer, and then plays them back at 1/5 speed to help you choose the best one. The V2 is a little larger than its predecessor but weighs in at a full third lighter. You'll be able to get your hands on one for $899 with the kit lens in late November.