POP or no POP, you should still go to court and ask for a fine and probation. That way it won't go on your record if you stay clean.
As for a V1, its pretty damn good. It's the best of the best as far as radar detectors. The biggest advantage the V1 has over everything else is that it detects the 5-0's radar a few seconds sooner than the rest. Those extra seconds is what will save your a$$ over using a cheapy Cobra or Uniden.
In the end, either fork up the bucks for a V1 ($400+) or just drive the speed limit!!!