I have a J1 and a J2 for use, especially, as a 3D pair. They are small, light weight, have interchangeable lenses, and sensor much larger than a typical compact camera (the industry calls it a 1″ sensor): Nikon 1 J1 DSLR with 10 30mm VR 30 110mm VR Lenses and Nikon Case Refurbished | eBay.
$199 for manufacturer refurbished J1, 10-30mm and 30-110mm lenses, and a small camera bag. I bought one of these from the same vendor months ago – very pleased with the camera.
I now often use these cameras as a walkabout camera because they are small and convenient, and unobtrusive in crowds.
Yeah, its only a 10 megapixel image but as you probably know, for a lot of shooting, that is an excellent image size, providing excellent quality, and better lowlight performance than a small point and shoot. You get DSLR like features (almost) with larger sensor, features, and lens options – in a point and shoot type package.
Funny thing is, when Nikon introduced the Nikon 1 cameras,
I just did not get the point of the camera. But oddly enough, I now have two of them and totally get it! I can see why the matching V series (V1, V2, V3) are a popular mirrorless format. If you want an eye viewfinder (rather than LCD panel), consider the V series.
P.S. I am just about to head out the door with the J1 with me, as a matter of fact 🙂