DPreview has posted its megareview of these siblings. Is the verdict a bit surprising?
"The differences between the J1 and V1 are important - the V1 has a built-in 1.4M-dot LCD viewfinder, while the J1 does not. However, despite
being the cheaper, simpler model, the J1 has a built-in flash which the V1 lacks. The V1 makes up for this omission with a multi-accessory port that can be used to mount a dedicated external Speedlight SB-N5 flashgun or GPS unit.
Modifications enabled in this version A 1.11, B 1.10 (Nikon J1)
Fight! The newcomer against the establishment, the newest versus the oldest and most mature compact camera system. The results are a bit..unexpected:
No longer the stuff of rumors, here's the E-M5 straight from the horse's mouth: