I think it's a fantastic product for proofing, web/iPad viewing and small prints, it's really quite good - much better than web sneering would lead you to believe. (A light box and loupe costs more than a V300 and are hardly as useful.) Scan and silvine the negatives, archive the majority on flickr/whatever and send off the great ones to an Imacon.
The shadows get a bit lost, but it isn't that bad.
I bought a V700 a few months after the V300 for larger formats. The 300, being dedicated to 35mm and LED, works faster than choosing the frames with the lamped 700 on 35mm.
- Charlie