I was at B&H yesterday and they have the V1 on display. AF is fast really fast, AF tracking impressive. However, to me the whole package felt rather uninspiring, be it design, ergonomics, haptics, lack of manual controls UI etc. Though it could be quite a good action camera for sports, street (?), kids, pets, social or family gatherings, video etc. Technically, Nikon seems to have it up its sleeves, but holds back to avoid cannibalising its entry level dslrs.
I played with the J1 this past weekend and I came away with the similar feeling. AF was impressive, including their CAF implementation. The whole package seems a little wonky to me. The J1 camea is small, but the kit lens felt like it didn't belong. Sorta how I feel about the NEX line with Sony.