The more I compare GH1(3) and GH2 footage, I become more and more convinced to upgrade, and be done with this whole codec and hack setting tomfoolery. The GH2 is producing the nicest DSLR footage out there to my eyes, hack or no, AVCHD or MJPEG.
So if Vitaliy, lpowell & co produce hack setting tomfoolery for the GH2 you'll be giving it a miss then? :happy:
Seriously, even if GH2 improvements are limited to Panasonic firmware updates, you won't be done with the codec. That's the heart of the game and getting the best out of it by whatever means will be the key to success.
What amazes me when comparing GH13 and GH2 footage is that when both cameras are at their best (i.e. 1080 and lots of light) there's not a gnat's willy between them; the quality is simply mega on both. The GH2 quality survives better than GH13 in low light; the GH13 quality survives better than GH2 in movement and with the other settings.
This makes the GH2 difficult to justify for me. Without significant improvements to the output all round, either via hack or official firmware, I probably won't get one.