Hi Rob,
I've had a V5 for 4 years. It's the only machine I've owned, so I can't really give you any kind of comparison.
For the most part, I have been happy with it. It has never let me down in flight, has always started easily. It has plenty of power, it's easy to assemble and disassemble. It's comfortable and has great fuel economy. (Oh, and you don't have to mix your fuel).
The only down side is that it has had a persistent oil loss problem that Bailey have not been able to fix after 5 trips back to their workshop. I have heard of other owners with the same issue, but I'm assuming that after 4 years, Bailey's new machines probably don't have this tendency.
Happy flying!
Dave