I don't see much difference in Neo V & Neo L as all the other specs are the same. So its just for the ICS & 0.3 inch of screen you need to shell out those extra bucks. Though i haven't done a detailed research on the same.
I have been using this phone for 1.5 years now.No new apps can be installed as the internal memory is sooooo low. The notifications bar is always showing low on space! WORST PHONE EVER