Nikon 1 V2 is Nikon 1 V with a complete makeover
The entry-level J model in the Nikon 1 series of interchangeable-lens cameras may have received some , but Nikon has completely revamped the higher-end V model -- likely in response to criticisms of some odd design choices in the Nikon 1 V1. Let's just say that in the press release for the V2 the words "friendly" and "familiar" popped up several times.
On one hand, it's got a huge grip versus the no-grip body of the V1, and it's got a flash built in, both of which definitely help. But I find the new design clunky-looking, and of necessity it's gotten bigger (though I'm not yet sure how much bigger). The mode dial has moved to the top of the camera, but more importantly it now has the usual set ofright there where they belong, as well as a real adjustment dial.
Of course, it still incorporates the small CX-size sensor, but at a higher resolution than before; that breaks parity with the, which probably helps Nikon differentiate better between the two models. As a reminder, here's how the CX sensor compares with those in other cameras: