Yes it is compatible. I bought one a couple of week ago and it works great. The only drawback was that in order for the Zune 80 to fit in the slot you have to remove the face plate. It takes a lot away from the looks of the base so i just cut the face plate to where it would fit the 80. other than that, I don't really think there are any benefits to getting the V2 because this has the same functionality and it was much, much cheaper (buy.com has the same one for like 27 bucks including shipping). I actually just ordered a second one for use in my car...
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I considered the horns, and, behold, there came up among them another little horn, before whom there were three of the first horns plucked up by the roots: and, behold, in this horn were eyes like the eyes of man, and a mouth speaking great things.[/

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