The Bottom Line: The Blueant V1 is a solid performer that exceeds the Jawbone 2 where it counts the most. Everything else is just window dressing.

WHO I AM: If you're anything like me, a person's background matters and it can lend credibility to their review. So to all you epinioneers out there I am:
A. Very discriminating in my purchases. I simply do not buy without having done extensive research on my purchase-to-be.
B. Musically inclined. Tone, clarity, subtlety matter to me. A lot.
C. A techie. The world of consumer electronics is my natural habitat

THAT SAID ... I am going to make this review short and sweet - touching on the most important qualities imho and leaving the rest for you to decide.

ANOTHER QUALIFICATION: I recently lost my Jawbone 2 to a watery grave as I was washing my car. The hose that connects to the high pressure wand caught it and *plop right down thru the grate and into its final resting place. So, since my JB went swimming in the bilge water lagoon, I decided I had to try the Blueant V1 as it was my second choice initially. My VERY first choice would have been the Invisio Q7 from Nextlink but stinkin' Motorola snatched it up and is taking FOREVER to release it under their brand name. *sigh

HERE WE GO:

CALL QUALITY - Uh guys, whoever said the Jawbone 2 had stellar incoming call quality needs to visit their friendly neighborhood audiologist. Don't get me wrong, it's fine when you don't need a lot of volume, but in a noisy environment? You turn the thing up and the sound is on par with what you would expect to hear at a bad drive-thru window's ordering speaker. Sure it's loud, but it sounds like a cheap walkie talkie blaring in your ear. The V1? waaaaay more natural sounding voice even at the highest setting. Now you will experience a bit muddier voice quality depending on how far down your ear canal the earbud is, but overall it beats the JB2 hands down in this category.

VOICE COMMANDS - Does it suck that the presets are all mapped out to the existing speed dials of your phone? Yes. Am I over it? Yes. Just say phone commands and you can use your own voice dialing. Problem solved. And the couple of extra seconds it takes to do this on my Moto Q9C isn't as excruciating as I first thought it would be.
Otherwise, voice commands on this unit are awesome. Speaker independent, no training necessary, accurate, fun, etc. And really cool that I can answer or ignore a call without pressing a button. Try doing that on a JB2.

FIT AND FUNCTION - With different earbuds (foam or rubber) and a swiveling ear hook, it wasn't hard to find the right combination for my ear's comfort. It sticks out further from your face than the JB2, but not having to have a little nubbin touch your face for it to work is a plus in my book. The buttons being oversized ruins the sex appeal of this unit (JB2 wins hands down here. Classic case of form over function), but makes it extremely easy to use. And when driving, the easier and less distracting the better I always say.

PRICE - Pretty much the same. I got my JB2 for around $65 incl shipping. The V1 for about $72 incl shipping.

THE CONCLUSION - Listen everybody; the Jawbone 2 has been marketed very very well. So I will no doubt have some haters want to tear apart this review, but I am telling you, DARPA approved or no, this little Blueant (which has dual mics just like the JB) has better incoming voice quality and the Bluegenie voice control is unmatched (not to mention unavailable on the JB2). Sure the Q1 is out now ... but it looks like a knock off of the JB2. That put me off a little.
Bottome line? The only reason I could see anyone choosing the JB2 over the V1 is the form factor or fit (depending on their personal preference). The JB2 just looks better. Period. But looks aren't everything. For with the JB2's hidden buttons and sleek curves comes a more difficult end user experience and compromised incoming voice quality.

Hope this helps make up some picky person's mind!