Wesley Echols has already reviewed this surfski very thoroughly. I absolutely love it! I can only add: It's fast, has a sailboat type of bailer that works well for winter--no more venturi drain and feet sitting in frigid water, the seat is more comfortable, and it seems perfect for multisport. The ultra layup does appear to be fragile, but it is a 21' boat that weighs less than 30#'s. It's about as tippy as paddling a broomstick handle--in reality the stability curve is different than a V10 and most people have commented the primary stability is more tippy than a V10, but the secondary stability subjectively feels higher. So yes, on a scale of tippy, it's a tippy boat. However, after several weeks of letting my core and propioception adapt to the boat, it now feels very stable.
Personally, I didn't fit into the V10 bucket seat well. I had to customize the seat with pads and/or a cushion even to remain in the boat for 90+ minutes, but I have that problem in most surfskis and many kayak seats. (I have owned a huki s1-r, mako 6, and v10, and have paddled the v10 sport, mako millenium, and huki s1-x.) The v12 has a snugger fit on my bum, which is now making the ski feel more stable, as it is a direct connection to the body. As soon as the ski starts tipping to a side, my nerve ending's in my bum have already told the brain what is happening. Also, it's the first surfski I've paddled that doesn't cause heavy leg problems when transitioning out of the boat. No more of that feeling like the knees are in your chest. So far, I have done three paddles directly to a run, and have been impressed at the difference in how my legs feel. Thinking it will be good for running or cycling afterwards. I have yet to actually time these transitions run, but just looking at the position in the boat and feeling my legs is enough to convince me. Wonder if the amazing New Zealanders multisporters have figured that out yet, as they are endless trying to design the perfect superfast multisport boat. I know this boat wasn't designed for multisporters, but it has me so very pleased!! This boat has me rethinking my feelings about surfskis.
Greg Barton's brief over at Epic: V12 Surfski
Addenda: Just paddled the V12 in 33kt winds (gust to 40+mph) and 2-3 ft confused waves on the inner Severn basin. Confirmed by USNA monitoring and Thomas Pt lighthouse. When i saw the weather map, i just couldn't resist. Yes, my fingers are still a tad frozen as it's November. I wouldn't venture offshore this time of year in that stuff as the windchill was near freezing, especially because I was solo. Call me a wimp, but since it was tropical storm Ida with potential 50 mph winds, I thought better. It still felt like life or death paddling at times. Not a great kind of day to be paddling nearly anything as I was usually at a neat standstill paddling into that wind. It was still a worthwhile day and very memorable! Spent the afternoon in Leeward Market having a coffee and reflecting on the conditions. It was then I learned that today they recorded the highest wave off the coast of Maryland.
Living life to it's fullest, and hoping my toes thaw out..... 
Remnants of Ida today. All day they kept saying "it might be another perfect storm." If it was, I figured I had to be out paddling. I wouldn't dare ride a bike in that stuff.
Being out in that stuff: The V12 is one wet boat, but the bailer empties the cockpit quickly. Thank goodness. The sides of seat and area of hull near the paddle "catch" are relatively low to water, allowing a tad more water into the seat bucket and foot well, in comparison to other skis I have paddled. Thank goodness for the sealskinz. Once I got used to the waves coming over my legs, it wasn't so bothersome. The written about secondary stability was very noticeable in those conditions. Not a single capsize. Not sure if that was coincidence or not, but many times a side roller wave threw me off balance, and I was able to catch myself on the edge with or without a paddle brace. Sitting up in the boat with the wind at my back, I was doing 6 mph without paddling. It was that windy. I still haven't figured out why kiteboard surfski sailing hasn't taken off. Now that would be fun!
Had on a neoprene hood, NRS hydroskin gloves, sealskinz socks, 5mm neoprene bottom from an old wetsuit, extrasport drytop, and a NRS midweight top. Sort of Fall storm wear gear! Was just perfect when paddling hard. I froze off my chillies talking to someone down at the dock who had to come over and ask "you went out in those conditions, on that boat!" 5 min of talking about surfski's, and I was starting to turn the color of a purple.
Answering an email: No, I still don't recommend a V12 over an Epic 18x or similar kayak hull for multisport racing or paddle triathlons. That said, if I was going to do UltimateXC next year, I would/will use the V12, assuming I continue to put ALOT of time in the boat. In the past, I would not have recommended a surfski for most anyone, but the V12 may bridge that gap. My recommendation still holds for using an Epic 18x, which is still very fast and requires less core muscle involvement. Maybe by springtime I will have a better understanding of this. Of course for the full course, the RD is only allowing plastic tug boats, so it's a nonissue. By spring, I should have more subjective data to verify the V12's multisport potential--for those Australian and NZ multisporters who live by paddle multisport.