the best for street candid and portraiture.. Nikon 1 v1 or D7000?

Get the d7000 and a 35mm f1.8. You'll love what you can do with the picture controls. Increase sharpening +6 and saturation +2 and your walking around street photos with that rich color you want. You can always add more lenses later as well as great battery life on the d7000.

The larger lenses range, much better sensor and more comfortable grip easily outweighs the portability of the V1 for street photography.

this comparison is out of bound

first decide on what sensor size u wand - apsc or something micro mini 1/4th size of that

if photography is more than a hobby - adapt to carrying the brick around - go for d7000

if it is just fun V1 is good - you can also consider sony NEX range which has a bigger sensor than v1 - and light weight than d7000