When comparing Canon WM-V1 vs Alead Nolan LiveMICRX2, the Slant community recommends Alead Nolan LiveMICRX2 for most people. In the question“What are the best bluetooth microphones (excluding headsets) for mobile devices?” Alead Nolan LiveMICRX2 is ranked 8th while Canon WM-V1 is ranked 9th. The most important reason people chose Alead Nolan LiveMICRX2 is:
The transceiver can still connect to compatible mobile devices directly by Bluetooth. But if latency becomes an issue such as with an echo effect, the included receiver can be used so long as the mobile device in question has a 3.5 mm jack for the receiver to connect to. Having a receiver means the system can be setup to work like a [Chromecast Audio](https://www.google.com/chromecast/audio/) enabling wired speakers or headsets with wireless capabilities. It is possible to use a different Bluetooth receiver than the one the manufacturer made and included in this combo, but YMMV. A [USB to Bluetooth adapter](https://www.amazon.com/Plugable-Bluetooth-Adapter-Raspberry-Compatible/dp/B009ZIILLI/ref=sr_1_1?s=electronics&ie=UTF8&qid=1494476609&sr=1-1&keywords=usb+to+bluetooth+adapter) was a commonly added item on Amazon for the Nolan LiveMIC2, presumably for laptops and computers with less than Bluetooth 4.1 capabilities, so it's a path well traveled.
Specs
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Pros
Pro 150 feet or 45 meter wireless range
Double the range of the Sony WCMAW4.
Pro Included receiver gives more flexibility and uses for system compared to LiveMIC2
The transceiver can still connect to compatible mobile devices directly by Bluetooth. But if latency becomes an issue such as with an echo effect, the included receiver can be used so long as the mobile device in question has a 3.5 mm jack for the receiver to connect to.
Having a receiver means the system can be setup to work like a Chromecast Audio enabling wired speakers or headsets with wireless capabilities.
It is possible to use a different Bluetooth receiver than the one the manufacturer made and included in this combo, but YMMV. A USB to Bluetooth adapter was a commonly added item on Amazon for the Nolan LiveMIC2, presumably for laptops and computers with less than Bluetooth 4.1 capabilities, so it's a path well traveled.
Pro Potentially better performance for delayed audio issues/ echo effect
Compared to the standalone transciever product from the same company Nolan LiveMIC2. The product description boasts of .02 second latency and that this is 10x lower (faster) compared to other Bluetooth products.
Cons
Con Appears to be discontinued
On Amazon the product Canon WM-V1 is no longer available and says "We don't know when or if this item will be back in stock. " The product is not searchable on Amazon but can be found via a 3rd party search engine. It is suspected that this product is discontinued. It is unknown whether a new version of the product is set to replace this product.
Con Must use a 3.5 mm jack to connect receiver to your mobile device
Con Can't use external microphones
The transceiver has no input jack for an external microphone including such as lavalier mics. This means that the onboard mic is the only option and that handling noise may be a problem.
Con Latency Lag can still be issue if not using the included reciever
If you use the included receiver, the lag/latency should not be a problem or much reduced at least.
Con Expensive
At this price range, budget analog transceivers and receivers with far better range capabilities are available.