I have both the XLT and the V3... I wanted another machine so my wife and i can detect together. As it was in the past, I would detect with my XLT and she would dig... although it was great for my back... it created a hunt and wait pattern. She would walk and wait to dig... then I would have to wait until it was dug up.
I hate to buy anything... and "could a had a V8" type of feeling after purchase! So I tend to make sure I bought with the future in mind and try to get the most for the money. The decision was... get another XLT or the new V3!
After studying and posts to forums... I decided on the V3 mainly because it appeared to be better then the XLT... a bit deeper... but much more programable. I liked the color screen, the several pin pointing screens, the ability to adjust on the fly, I love the wireless headphones (just stay out from under high power lines). All in all... I think I made the right decision... I would not be disappointed with it's functions and abilities.
I am not a programmer... and have not used the many functions of the V3... and I am slowly learning how it works... but it is a detector that I can grow into and not be dissatisfied a bit later down the road. The more I learn... I will move right into it, on the V3.
HOWEVER... lol
Peggy (peggyg827) has taken off with my old XLT... and not looking back! LOL We now use little FRS radios while we are detecting a large field. As for the results

she is finding way more than I am... and what she finds are great finds! She has found rings, bullets, Cw buttons, a few good coins and some homestead findings... like a 1879 singer sewing machine frame! LOL
As for me... the V3 is pretty sensitive and I got a bunch to learn about it... it finds tons of stuff, I just have to learn when to dig or not. I am totally satisfied for buying the V3... but the learning curve is long and deep. Did I get the right detector for me... YES! I will grow into this very nicely.

I hope this helps.
Ralph & Peggy too