How good IQ on the V1?

The VR on DX/FX lenses do work with the FT1 adaptor. but you are right on the center point focus only and also only AF-Single focus, no AF-C support. Plus, the VR is always on in the lens unless you turn it off manually via the switch.

I also agree that it looks good on paper, but in practice it is not that great.

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I am not a brand loyalist, I can take equally bad pictures with any brand...