Last night Nikon announced the second generation of their 1 mirrorless system camera. The new V2 increases resolution, speed and has a redesigned body with better camera controls.
Nikon 1 V2 Compact System Camera – More Speed, Better Design | Camera News & Reviews
The basic camera concept is the same with the V2 - smaller CX-format sensor with great auto focus and burst speed. I think the Nikon 1 cameras are pretty niche - basically for Nikon fan boys or hardcore outdoor folks who want great action performance. But if you do want a really small system camera with great action performance for stills and video, nothing else compares in my opinion. I included my Nikon J1 intro video in the V2 announcement article and I am still really impressed with the video I was able to shoot with moving subjects with that camera. I'm still waiting for one of the other camera makers to match that continuous auto focus performance with a mirrorless camera.