I downloaded your video last week and I was blown away by the quality of it. I got my V1 on the same day and decided to shoot the video that opens the post. Totally agree with the limitations you said.
If you guys are about to get the camera you should think twice about this. It is not easy to shoot this way. For instance, if you are not happy with the 1sec clip, you will have to wait for a whole 1:30 min until the camera transfer it to the SD card. Once it's finished you cannot play it either, you just see the single raw pics there. The auto mode is also quite annoying, specially the shutter speed, which is not easy to keep at at 1/60 (the slowest possible) and if it happens to shoot at that speed chances are that the iso is at 400 or more.
But as Galileo said, "and yet, it moves!" Yes, still really cool.
Javi.