HVX-200 has got bigger chip..1/3′ not 1/4′.
HVX-200 has got better formats and better built quality.
HVX-200 has got better camera controls.
HVX-200 has got better colour matrix and you can shoot both on tape or P2 or even hard drive.
V1 has got better flip screen and fully auto AGC(audio),which can be handy.
Sony V1 is not as good as Sony Z1 and Sony Z1 is not as good as Pana HVX-200 🙂