The Nikon V1 is still a bit of a novelty to me, and I generally take it everywhere. Of the four lens currently available for it I generally always have the 10mm f/2.8 prime and the 30-110mm zoom with me. I also own the 10-30mm zoom but not the power zoom.
One of the many arguments made against the Nikon 1 Series of cameras is that it cannot do minimum depth of field and the image quality is not up to that of the micro four-thirds or the Sony Nex System.
As you can see from the above shot. As a carry anywhere camera the results are certainly good enough for general use.
A great carry anywhere camera to take advantage of those moments a bigger camera may miss.