I own one of the first V7s. These V3s look incredible. The see through red finish is great.
This will be so much more bass than the equivalent Squire Affinity Jazz. The Squire is only marginally cheaper, say about £10, so I know where my money would be going. It really is a no brainer.
I can't see many differences with a V7. The bridge has standard saddles, the neck obviously hasn't the blocks and binding. Perhaps the nut is synthetic rather than bone. Mahogany maybe cheaper than alder and swamp ash?...who knows.
I just hope they don't do a P3, otherwise I am in trouble