FT1 adapter

I've recently purchased one of the heavily discounted Nikon V1's and it appears to be quite a nice camera.  I have a very large collection of lenses from other cameras and so am looking at purchasing an adapter.  I am trying to determine if the Nikon FT1 adapter makes any sense at all.  Is it's benefit that it will allow Nikon lenses with motors to auto focus?  I have several fine Nikon lenses that autofocus on my DSLR but use the camera's motor.

What else, practically speaking am I missing?  The FT1 adapter seems to cost 3+ times as much.  What does it bring for that money?

--
http://dp1meanderings.blogspot.com/ http://S90meanderings.blogspot.com/ http://iPhonemeanderings.blogspot.com