TC:
I think it was deemed obsolete because it "only" was 5.1 MP. The newer
V705 (which was virtually identical but was 7.1 MP) took it's place, but is also discontinued. I believe that the public demanded a higher mega pixel setting. I don't know why, because a 10 MP photo takes up HUGE amount of storage. The funny thing is that I do not believe the public really realizes how useful a true wide angle camera is, especially for shooting groups of people indoors at parties or Christmas get togethers, and generally demands megapixels over truly useful wide angles.
I have worn out several. One of 2 things happen. The mechanically operated lens cover fails (but never sooner than at least 10,000 exposures) or the rear LCD fails. However, each can be repaired for $50, but I usually just buy a new one on EBay.
Wm (Bill):
One thing I forgot to mention is that the V570 has a "preview mode" where you can push the shutter button half way down and it freezes the light setting on the LCD. If you are shooting a tough lighting situation, you can push the button half way down, and the lighting setting the camera has selected is frozen, and you get a very good representation on the LCD of what the photo will look like.
Say, for instance, you are shooting a back lit subject. You select the center spot mode and aim the camera. Push the button half down, than look at the screen. If your intended subject is too dark, you can try pointing to a darker part of the house (which will let in more light). If it is too overexposed, you can point the camera on a lighter portion of the house. Once you have the proper light setting, hold the button half way down, then focus the camera where you prefer (ie center the house in the screen) and shoot. Perfect exposure every time in any conditions.
I do a lot of ocean front condominiums, and I like to take a photo of the ocean view from the inside of the living room, through the glass doors or windows. This is a nearly impossible situation, and difficult even for trained photographers (I am not). Our eyes are capable of properly seeing both the ocean and the dark living room well, but a camera is not. However, with this feature, you focus on the ocean from inside of the living room, let the camera get a light setting on the ocean (not on the living room), and you get a real nice photo showing the blue ocean, with the living room obviously underexposed, but visible.