For JDK-8222711, I have pushed an initial implementation here:
http://hg.openjdk.java.net/valhalla/valhalla/rev/cc473d393abf.

Basically, instead of generating synthetic static factory methods of the name $makeValue$ as was the case with LW1, javac now under the option -XDstaticInitValueFactory emits source level constructors into class file level static factories that
    - have the name <init>
    - are static methods
    - have a return type that matches the class
    - are invoked via invokestatic at the new V() construction site.

Given the following program:

public value class X {

    int x = 10;
    public X(String s) {
    }

    public static void main(String [] args) {
        X x = new X("");
    }

If I compile as:
valhalla/valhalla/build/linux-x86_64-server-release/jdk/bin/javac -XDstaticInitValueFactory -g X.java

and attempt to run it as:
valhalla/valhalla/build/linux-x86_64-server-release/images/jdk/bin/java -XX:+EnableValhalla X

I get:

Error: LinkageError occurred while loading main class X
java.lang.ClassFormatError: Method "<init>" in class X has illegal signature "(Ljava/lang/String;)QX;"

All the 4 changes listed are potential irritants for the VM and need to be addressed.