Size and weight is a big decision factor when you are trying to find the ideal camera for your needs.
In this section, We are going to illustrate Panasonic ZS7 and Nikon 1 V1 side-by-side from the front, back and top in their relative dimensions. Panasonic ZS7 has external dimensions of 103 x 60 x 33 mm (4.06 x 2.36 x 1.3″) and weighs 218 g (0.48 lb / 7.69 oz) (including batteries). Nikon 1 V1 has external dimensions of 113 x 76 x 44 mm (4.45 x 2.99 x 1.71″) and weighs 383 g (0.84 lb / 13.51 oz) (including batteries).
Below you can see the front view size comparison of Panasonic ZS7 and Nikon 1 V1. Panasonic ZS7 is clearly the smaller of the two cameras. Its body is 10mm narrower, 16mm shorter and 11mm thinner than Nikon 1 V1. As you can tell, actually this is not a fair size comparison since Panasonic ZS7 has a built-in lens but Nikon 1 V1 doesn't. Once you put a lens on 1 V1, its thickness will increase significantly.
Now lets look at the top view comparison of Panasonic ZS7 and Nikon 1 V1.
Weight is another important factor especially when deciding on a camera that you want to carry with you all day.
Panasonic ZS7 is significantly lighter (165g ) than the Nikon 1 V1 which may become a big advantage especially on long walking trips.
Again, this comparison may not be very useful in real life as we are comparing the weight of a camera with a built-in lens to the body-only weight of an interchangeable lens camera. Once you put a lens on 1 V1, the total kit will weigh much higher.
Unfortunately neither Panasonic Lumix DMC-ZS7 (Lumix DMC-TZ10) nor Nikon 1 V1 provides any type of weather sealing in their body, so you have to give extra care especially when you are shooting outdoors. If weather sealing is a must-have feature for you, check these sections: Top Compact Cameras with Weather Sealing Top Mirrorless Cameras with Weather Sealing
LCD Screen Size and Features
Panasonic ZS7 and Nikon 1 V1's LCD screens has the same diagonal size of 3".
Unfortunately, both cameras has fixed screens so they don't tilt or flip in directions.