Pros:
Picture Quality - Lots of resolutions to suit your needs. At work I have a projector capable of only 1024x768 while I need that 1080p when recording lessons on the computer. No matter the resolution I choose, this looks fantastic. I was also really pleased with the quality of the camera when using it as a web cam. Shockingly good! Auto-Exposure does a great job and you can adjust saturation/brightness/contrast to suit your situation.
Standalone - To get the MOST out of this device, connect the computer through VGA (USB to use the Visualizer software), then use the VGA-Out or HDMI to connect to a projector/screen/monitor. That way you can not only use the software features, but use the camera on its own and utilize all the hardware functionality.
Software - The Visualizer software is some of the best I've used for a document camera. The OCR scanning does a fantastic job, and I love that I can put myself in a little webcam box in the corner when recording lessons. Software comes on the CD and updates can be downloaded from the website. At the time of this writing it is version 2.1.
Construction - Materials are solid enough. No creaking or groaning when being moved around. Buttons are clicky and responsive. Plus, the whole thing can be folded down to about 3.5 inches and slid under a monitor stand.
Adjustments - Not only can you point the camera in pretty much any direction, but the hardware zoom and keystone settings worked great. Easy to get an image of just exactly what you're wanting.
Lights - One strip of LED lights and one single LED light. They get the job done in a darkened room, but I feel like they could be a bit brighter.
Things To Improve:
1. I wish the camera head could be rotated downward more. I had a specific angle I wanted to work with, but was difficult to do. I ended up adjusting the keystone settings and things worked out fine. It isn't a big deal, and there is a workaround for my issue. Was just surprised. Could always have this sitting on a book and then I wouldn't need to adjust anything at all. Haha
2. Would also be nice to use a dome for the IR sensor. As it is, you need to point the remote sort of at the sides of the arm to get it to register a button press. If the IR sensor was built onto the base and housed in a little dome that could be pointed at from 360 degrees, that would be better!
Nitpicking aside, there really isn't anything negative to say about the V508. It is a worthy upgrade for any classroom teacher. The Visualizer software and the ability to use this WITHOUT the computer or software put this leagues ahead of the competition at the same price. I absolutely love it! Can't wait to use it in my new classroom next year.