We'd been hearing that Nikon had decided to finally join the prosumer parade of lightweight interchangeable lens cameras, and here’s the result: Nikon’s 1 Series, a pair of 10.1 megapixel CMOS shooters with brand-new (and tiny!) CX sensors, 3-inch LCDs, 1080p30 video recording, RAW images and a grand total of 73 phase detection AF points, for what NIkon’s calling the "world’s fastest autofocus." Both the $649.95 Nikon J1 and the $899.95 Nikon V1 sport a 10-30mm kit lens, 10fps shooting speeds, max standard ISO of 3200, and an EXPEED 3 processor. You’ll likely get a much clearer image of your target if you opt for the V1, though — it’s got a 921,000-dot LCD (compared to the J1′s 460k dots) and adds a built-in electronic viewfinder that covers approximately 100 percent of the scene at SVGA resolution.

Of course, if you’re swapping out lenses, you’ll want to know what glass is available, and Nikon has a few options on tap — in addition to the 10mm-30mm kit lens (27-81mm equivalent, and approximately 3x zoom), there’s some 30-100mm f3.8-5.6 optics with built-in image stabilization, a 10mm f/2.8 pancake prime, and a hefty 10-100mm f/4.5-5.6 with both VR and a powered automatic zoom. You can even add your Nikon DSLR lenses with an optional F-mount adapter, but be aware the 1 Series has an even smaller range — the new CX sensor measures just 13.2mm x 8.8mm, and you’re looking at a 2.7x crop factor. Find both cameras in stores this October 20th, and check out pictures and video after the break, including images of the new optional GPS module and Speedlight miniature flash.