Summary: Nikon 1 V1 is the camera that got me into mirrorless cameras. V1 paired with 18.5mm f/1.8 is simply awesome. Nikon 1 has small cameras with small lenses. Sony Nex has small cameras but many of their lenses are large. Nikon 1 has very fast and accurate af and even has very good tracking and continuous af. It has incredible burst rate as well which makes it kid friendly. It's a great family camera.
Summary: My motive was an to upgrade from a P&S (Canon S100). As far as quality of photo is certainly is an improvement. The surprise is that it is more of an improvement than expected. And the price is very good now that the V3 was announced. I compared a couple of photos taken side by side with the V1 vs my D5100 and after making some minor exposure and contrast adjustment to make them as alike as possible, I printed the results.
Summary: This is one amazing little camera! I have a Nikon D200 and an assortment of lenses which I love, but this V1 will be my travel camera for going overseas. The size and compactness of the camera and several lenses is ideal. One does have to get used to handling a smaller seemingly delicate instrument after using the larger DSLR. This is a great system, especially with the 6.7 to 13mm wide angle zoom and the adapter to use the larger DLSR lenses.
Summary: As far as DSLRs go, you may not need one as big as a full size. These smaller mirrorless Nikon cameras are truly amazing for the price. With interchangeable lens, you can buy what you need for whatever suits your needs. It doesn't come with a built-in flash, but the speed-light flash (Nikon SB-N5) is a far worth while buy. If you want a DSLR, but not the size and complexity of it, Nikon 1 V1 is the way to go.