Good alternative to nikon j1 camera?

Hi, i was looking to buy a nikon j1 camera.however, they are $400, which doesn't seem worth it. Are there cameras that match the quality of a nikon j1 but are priced slightly lower?

The Nikon D3100 out performs the J1 and is similarly priced

http://aviewfinderdarkly.com.au/2011/10/06/nikon-j1-and-v1-mirrorless-interchangeable-lens-digital-cameras/

For about the same price you could get a Panasonic GF5
http://www.bhphotovideo.com/...amera.html

For less money you can get the older model Olympus PEN E-PM1
http://www.bhphotovideo.com/..._with.html

Among the three (including the J1), I think the Panasonic GF5 is probably the smartest buy, if you don't mind a bit more bulk than the others. Much of the mark-down is on the kit with the standard 14-42mm kit lens. The kit with the power zoom lens is about $200 more expensive. The power zoom lens is more compact and does quieter video zooming. The more bulky, less expensive lens has better image stabilization and is sharper.

If they're not worth it at $400, then surely nothing will be if priced lower.

Just about anything, really, this is the worst EVIL camera on the market (a bit like the flattest carpet, but there you go).

$400 won't get you anything of real quality, but if you discuss your needs and budget with a dealer, he might get you something adequate.