As others have said in the past, its all in the technique. When first steaming milk with the Silvia I found I couldn't get the same quality foam as my previous machine. After playing around with technique, I found that the following worked for me. Start with a cold jug out of the fridge and cold milk. Position the steam tip in the centre of the jug and about 25mm below the surface as you very slowly open the steam knob. This avoids large bubbles on the initial burst of steam. When the steam becomes steady, slowly open the knob until the pressure gives good milk circulation (not out of control). For me its not all the way open. I then slightly angle the jug and lift the steam tip until I get a steady slurping sound which is when there is just a small curve of the bottom of the tip above the surface. The milk is spinning nicely, not violently. If its too fast move back towards the centre or adjust the angle of the jug. The milk stretches quite quickly so you need to keep lowering the jug to keep the bottom of the steam tip in the same position at the surface while creating that even slurping sound. When the milk has stretched enough, level the jug and move the tip back into the centre and lower the tip well below the surface. Leave it there as you turn the knob off when at correct temp. This avoids the burst of larger bubbles at the end as you close the knob. I originally had the impression that the single hole in the V3 steam tip may be just a touch too big but after playing around I found it can produce quite reasonable microfoam. I'd still like to try a tip with a marginally smaller hole just to satisfy my curiosity.
PS Not all milk foams the same or retains foam after steaming for the same length of time. Maybe try a couple different ones. We currently use Pauls parmalat pure organic low fat unhomogenised milk from our local supermarket. We also tried the full fat version but found the creaminess overpowering and it lost the body of the microfoam very quickly.