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Nikon has announced a new system camera, known as the "1". Instead of adapting a 4/3 sensor, or APS-C sensor, as Sony Olympus and Panasonic have done, Nikon chose to build a brand new system from the ground up - sensor included. This sensor is not provided by Sony. The camera has some rather interesting capabilities, including 60 FPS at full resolution, and an AF system that contains both phase detection AND contrast detection - a first for a mirrorless system. The J1 will launch at around $650, while the V1 will launch at $900 for one lens, and $1200 for two. Both are set for release on 10/20/11.