Beware, indeed. I bought a dumb adapter for mounting Minolta MD lenses. I have described the experience here: http://forums.dpreview.com/forums/readflat.asp?forum=1058&thread=41671824
I can possibly live with no metering, but it is impossible to focus manually without viewfinder magnification.
Allan,
I have the same problem with the "dumb" adapter I bought in Shanghai for the Leica M lenses to the V1. No MF viewfinder enhancement makes it almost impossible to use.
I'll have to find a Nikon to Leica M adapter to fit to the FT1, if there is such a thing.
Neil