I have been using my Nikon 1 V1 lately to test its features for a vacation camera. What is fantastic is that the AF still amazes me. Truly awesome and fast. I have been using it in multi-point mode (camera will choose the AF points) with face recognition. Works so well and usually knows the right target (I do not know how).
For using this camera for few days I think that the ISO100 is the only usable (at least only un-noisy) ISO with the V1. I am seeing quite much noise already at ISO200. I think, however, ISO100 is totally okay when shooting outdoors in good lighting conditions. I suppose this will be the situation at our trip. I can get fast shutter speeds because I can use the lens wide open or near it to get sharp shots and the DoF I need. I am now using aperture mode and watching out the shutter speeds. At the moment I feel that I want to stay at ISO100, maybe ISO200 in max. It seems to me that for indoor shooting this camera needs a flash. If you go to ISO800-1600 range (which is many times needed indoors) the noise levels increase very much. One cure for this problem could be a faster lens, like Nikon 1 NIKKOR 18.5mm f/1.8. But I think I am not going to buy a new lens yet. I have to learn the camera more first.
I have been very pleased for the outdoor shots by V1. Nice camera for quick snapshots.