I briefly had the TVSIII. I loved the build quality, but hated the stupid trap door. The delay to use the camera from closed was silly. Turn on, wait for the trap door to come down, then wait for the lens to extract.
The lens was killer IF the camera focused correctly. But for some reason mine missed focus about 1/3 of the time. Not hugely, the pics just seemed 'off' then when you looked closely, you see that it focused slightly infront or behind the subject.
Weird, cuz even my most basic p&s cameras focused better.
As for the TVS 1 and 2 - they don't use the dumb trap door but now are very susceptible to main ribbon failure.