Originally posted by: Ornery
It's simply a matter of the size issue. Well, battery life ain't so great on the V1 either, probably due to the small size. After owning the 707, and using my dad's Canon A40, I've come to the conclusion that I'd either be happy with high quality pics of the big camera, and suffer with the bulk, or go all the way down to a truly pocket sized camera, and don't expect too much from the images. My dad's Canon really won't fit in a pocket easily, and the V1 is only slightly smaller.
I just don't care for the compromise. It doesn't shoot as well as the full size camera, yet isn't small enough to fit in a pocket easily. I'd go one way or the other, not try and get the best of both worlds. By the time you start using an external flash, extra batteries, filters & memory sticks, you're going to be lugging a bag anyway. Might as well opt for the 717, 828 or even the Digital Rebel instead.
"...the swivel action of the rear portion actually might be very useful."
Hah, MIGHT be! You have NO idea! I use the swivel about 90% of the time. Either shooting from waste level, or overhead. Most of the time, people don't know they're about to be photographed. That's a great help in capturing the true feelings of the subject. I HATE posed pictures, unless they're studio type shots. Most of the pictures I take are simple snapshot type compositions. I want to capture the moment as it's happing, not people with cheasy smiles, wincing or posing. The swivel body or LCD will be on every camera I buy for the rest of my life. It's a MUST HAVE feature now.