The main idea of the V5 is to raise a family of Tamagotchi Characters, you can raise up to three characters at once. The V5 has some new icons, and yes there is no schooling/jobs or even mail. The main focus is to basically raise a family and there are lots of activities to participate in on the V5 that will be sure to keep you busy! (as if three characters wont!) You will also be able to play games and go places on the new Tama Earth & Expo at tamatown.com, the V5 is a significant upgrade.