I've had my VL70m for only a week now, but my first impression is quite favorable. When tested side-by-side with my VL1m on my favorite paches (converted VL1m->VL70m), I can't notice any real sonic differences or playability differences. The unit is small (1/2 rack vs 3U) and light, plus I don't need my homebrew BT7. To drag to most of my practices, the VL70m will be perfect.
In my performances I do use the poly capability of the VL1m for sustain and layering, so I don't expect to gig much on the VL70m. Also, the VL1m simplicity of the on-board floppy drive, 128 user voice memories, and the elegant menu screens are vastly superior to the VL70m. I find the VL70 cursor/button screen navigation for selecting banks and patches to be a pain. Only having 6 user voice slots would be a problem with my solo gig work, but my work today in writing new compositions with a newage keyboard player will work fine on 6 user voice slots. When we flesh out a new tune, I usually stick with patches I know extremely well so we can concentrate on the tune, not the patch. Later when the tune is progressing into refinement, I start to explore what patch I truly plan to use, and then most often within the confines of my home studio.
In summary, the VL70m seems to be a very fine addition to my rig, and I'm excited to only have to carry a gig bag and KC300 amp to rehersal, leaving the VL1m safely at home until it's time to play in public.