The V function has been around APEX as long as ... let's say very long and that's a long time. The V function allows you to reference item values from session state in your SQL statements. When calling V there would always be a price to pay.
With recent releases of the database there is a new way to do something similar; SQL Macro. With SQL Macro you can create parameterized views and this could be very interesting for APEX Developers.
In this session I will give you an overview of this new functionality and how you can use it in your APEX applications.