There is nothing wrong with it. Yes, dual suspension bikes have changed designs, but that doesn't make your Super V any less ridable.
The only thing I'd do is to check the pivots for wear, as well as the usual checks on the drivetrain (cables/housings, chain, brakes, tires, wheels in some decent true state, etc.)
The only bad thing about V bikes (I have one myself) is that people assume they are cheap because of all the X-Mart junk bikes that use a similar shape.
If you really like that bike, you could always give it a "second wind" by component upgrades such as Avid Single Digits so you have V-brake stopping power.