I know this comment is a bit late, but, better late, than never.
I don't like either of them. If I had to, I would stick with the Nikon 1.
The PEN feels better than the Nikon 1 in my hands, and it's a great little camera. The Nikon 1 to me, feels all sloppy and shizznit. Especially the lens. I like the component quality in the Nikon better. The Nikon should produce slightly better results than the PEN, IMO.
Either of them would be good for someone who isn't a photog, or doesn't want a bulky DSLR with them all the time, when they don't need it. They both are tied in my books, but I trust Nikon, and have never been let down by my D60, which has over 20,000 exposures on it, and has been in rain, snow, ice, dirt, heat.......it's just taken a beating in general.