"One of things I've learned is that a small cam like the V1 should never be handheld. Ever."
I shoot weddings on small handheld cameras all the time. I also very often shoot handheld. It is all about how you hold the camera - and use the "steady shot" feature.
Also - try not to zoom in too much when you are handheld.
Let me know what you think of my wedding videos...
http://www.weddingfilming.com/demo-video.php