Just had the first flight with my new V3 which has the 3.12 firmware and all the latest updates, 2.1 esc's, vented wifi, gps shielding and so on. Its the latest model i hear being the PH646 model. The whole flight was absolutely flawless, it hovers dead on the spot but best of all i had the highest preview setting at 640x30fps and there was no lag or drop out at all, was only at around 1100ft though as it was just a test flight to make sure all was working properly with the new firmware. My Galaxy S5 also has the latest lollipop 5.0 android firmware and latest dji app too so no problems there either. The new scroll wheel for camera tilt works like a charm and very smooth panning is possible. I've made this thread because there is a lot of scaremongering, negativity and worries in the forum about the V3 model and especially the latest 3.12 firmware. I say update and go have some fun.