I am really new for digital photography but have an extensive experience with conventional cameras.
v3 is my first and it took couple of weeks and extensive discussions with my friends and in Internet to decide what to buy.
Finally I took v2 from my colleague for a weekend to play with it and I made a decision 
Several factors:
1. The design, size and how it feels in hands, metal case - this is unbelievable, you just want to take it with you everywhere and it's easy to do, it's so small! Will be convenient especially during my upcoming vacation trip.
2. The quality. I am not going to spend much time trying to print large pictures, or doing some miracles with artistic design and so on .... I just need quality 10x15 or 13x18 pictures (if I will print some of them) and v3 do a very good job with it! Surprisingly it has a lot of settings, which you can alter manually, exposure, long shutter speed, white balance, some effects, very accurate artificial intelligence auto focus (which you can switch off, the same principle with exposure control, exposure and focus locking possibilities, and so on and so forth ... very intelligent and very small camera. So far I love it!
I did several test pictures in a digital lab to find out if I notice different compression on print pictures. With 256 megabyte card you can shoot about 151 Big Superfine (biggest size and lowest compression) pictures, if you change to Big Fine (Biggest Size and moderate compression) – 270 – this is a difference and it will be convenient for me for a two weeks vacation (do not want to buy additional CF card now). So the result – I did not noticed quality changes when printed in the same format Big Superfine and Big Fine pictures.