Yeah the V03 is the replacement for the v07. The v02 is the new high end model. V02 is the only one with Bluetooth.
I would get a v03 if I was after one now; only downside is the XP home instead of Pro. I think the v07 is more because it is older stock and prices for components have dropped since when they were purchased by the stores.
Of course you may want to wait until April now when the new version with Sonoma comes out. It is the Joybook s72. Has a 1.6 GHz Centrino, 512Mb RAM, 60 GB HDD and an x600. The 1.6 GHz centrino is the new Sonoma one though so better performance.
On another note the benq service is very slow here in Brisbane. Mine went in for repair (was making a buzzing sound) so they had to replace the motherboard. It has been a little over 2 weeks now and the store has just got the replacement motherboard in - they ordered it from BenQ over a week ago (and I have been going into the store and enquiring/harassing them practically every day since I took it in to try to speed the process up
The fault itself was minor; the motherboard was making a buzzing/beeping sound that was very annoying in a quiet room. It was apparently some sort of small short circuit. Did not affect the operation of the laptop in any way.