Nikon 1 Camera? Opinions?

Could anyone give me a list of pros and cons about this camera? I have heard that it's an over glorified camera, yada yada. But I do not want a DSLR. I don't want to spend the money, and I'm not looking to be a professional photographer. I just love photography and want to do it as a hobby. Plus I don't want a huge chunky camera. I want a step or two up from a regular digital camera. Please give me your opinions on the Nikon 1. If you don't think it's a good camera, tell my WHY you think that. Also, tell me if it would be a step up from a normal digital camera. It does not have to be as good as a DSLR, just better than a regular digital. Sorry this was so long. >.< Thanks so much for your time and help! :]

Nikon 1 series.

PROS:
1) Very small and compact.

CONS:
1) Lens selction currently limited to 4 lenses. Additional lenses are probably on their way but will be expensive. Third-party manufacturers (Tamron, Sigma, Tokina) aren't offering Nikon 1 mount lenses but may at some time in the future.
2) Lenses cost as much as traditional DSLR lenses.
3) The J1 camera and lens costs almost the same as a traditional DSLR and lens.
4) The Nikon 1 uses a new lens mount with no backward compatibility.
5) It uses a relatively small sensor. Bigger than the average point & shoot but far smaller than the sensor in a traditional DSLR.

I suggest looking seriously at the Sony SLT A35 which is smaller than other DSLR cameras. Here is a review: http://www.imaging-resource.com/PRODS/AA35/AA35A.HTM

Riley, you've heard correctly. Any EVIL camera is nothing but a glorified, way over priced point and shoot pocket toy without a view finder.

For the same money you can do much better with a dslr. Yes they're larger but if it's quality you're interested in then a dslr is the only way. If you're just interested in snapping then stick with a pocket toy, much cheaper and easier to use.