None of us know what the future is for N1, perhaps Nikon does not know either. So you buy based on what you see and how you like it. (Mind you I am not sure about the future of other camera companies either in the current downturn in camera sales)
I have had V1, V2 and V3. The V3 is vastly more competent than the others, although there is much to like about both V1 and V2. Some people deride the detachable (or addon) EVF and grip on V3. I suspect they have not used the V3 extensively. I find that both work well and are firmly attached (if the grip is properly screwed on), and I could always dismount them if I want a more compact rig (but actually have not)
The V3 has enough controls to satisfy me, the others need menu diving to adjust things.
In good light there is nothing between V3 IQ and M4/3. V3 focuses better, M4/3 may have the edge in low light. I have Panasonic GM5, which is smaller (too small) GX8 which is bigger, and handles well, and is weatherproof.
N1 has adequate lenses for me, 6.7-13, 10-100 non PD and 70-300cx are a great trio, there are faster primes as well. If you want macro you have to use tubes/auxiliary lenses or FT-1 with Nikon lens.
M4/3 has on paper a wider selection of lenses. However there is a lot of duplication and it depends if they fit for you. Theyn are certainly bigger than N1 equivalents.
For me, the IQ of a camera has to be sufficient and that of V3 is, the handling has to fit my old fashioned photography methods, my first camera was when I was at boarding school in 1950...work that out.... and I just have to bond with it. I do with V3, I do with GX8, I do with Fuji X30. I don't with Olympus OM EM10, or EM5.
I suggest you try to get your hands on as many options as you can and see what fits. IQ will be good enough whatever you get unless you are a pixel peeper.
Low light/shadow noise is bad on all digital bodies. To get decent results you have to expose properly and use the tools available to reduce noise..DXO Prime NR is great.
Good luck with your decision
tom
I have just sold my D7100 with 18-300 Lens. I am 72 years old and just find it too heavy. I stopped carrying a bunch of lenses years ago. So...I am reading on dpreview that the V3 has noise in the shadows ( I think maybe most small sensors do) at iso 160. I did have a Lumix fz1000 a couple of years ago, which I liked very much...but again fairly big.
Can you recommend the V3 or is the Nikon 1 series just about Kaput. I was hoping like a trillion folks that the DL series would eventually come to market....but alas , not going to happen. I may go back to Panasonic, but fancy a go with the V3.....thanks for any suggestions.