Why is everyone saying a P&S with better capabilities? It is not small. Weight and size is comparable for example with nx100 (body only). Couple the nx100 with the 30mm f2 pancake and you have a camera that will be at least as small as the smallest V1 can get, and at around 300$ with better low light capability due to the fast lens (can't comment on sensor yet, I'm pretty sure the nx100 sensor will have colour and dynamic range advantage maybe, but maybe not noise).
While high iso seems quite good, which was to be expected they didn't go wild with many magapixels, the images are rather disappointing, colours seem... llifeless somehow. The problem is the size of the camera isn't P&S at all, lenses aren't much smaller than existing alternatives. If the kit lens would be a small pancake, then yes, it would be something, but seems they take the way as the others, that the kit lens MUST be a small zoom.The way I see it, current evil cameras are mostly appealing to people wanting to step up from P&S, most dslr people who I know tried them, went back to their toys, not good enough vs dslr, not small enough as alternative pocket size. Nikon I think tries to get that audience, but the size kinda fails, it's not small enough. And for P&S people who maybe want shallow dof and fast lenses, I'd say it will also not be so appealing.But we will see in a few months. Reputation and marketing go a long way.