My two cents: I played twice against very similar quality player, this season and these comments will be based on them.
The first game: Match was in his grounds and both of us were in the game. I sticked to 4-1-3N-2 and won confidently, basically thrashed him statistics-wise.
The second game: Match was in my grounds and both of us were watching the game. I started out as 4-1-2-1-2 ND, playing attacking mentality through the middle, with no arrows. He was doing better than me, but didn't have anything more than a single 1-on-1 in the first half and a number of unsuccessful corners. I switched to 4-5-1 V-Style late into the second half, attacking mentality, down both flanks, red arrows on AMs, counter-attack. Stats changed to my favor and I had a number of corners, run through flanks, shoots from distance in last 20 mins since I did the change, while he had complete "nothing". Neither of us was able to score and it ended draw. Man of the match was his goalkeeper! I guess I would have won, if I changed to 4-5-1 V-Style a little sooner, but all those rumors regarding inefficiency of this formation added a lot of hesitation.
P.S. Both of us are very good defense-wise and have a quality goalkeeper.
P.P.S. If I would play against a strong 4-4-2 again, I would still start with Narrow Diamond (conservative) and change to V-Style (risky but efficient), but a lot sooner.