The SLOG-2 update seems to be coming in the next few days according to the phonecall I just made to Sony Support, at least in the UK, and it is £500, which is a little more than had been rumoured but I'd only heard US prices and I guess those of us over the pond are relatively used to paying the same number in pounds/euros to dollars sadly! Though they will also pick up the camera, sort it and return it so that's at least convenient, you will also need to register with prime support so will need your invoice from where you bought it and send them an email, that seems a relatively quick process. That's the bad news, the good news is the upgrade is pretty decent as I've been testing a demo unit. And I currently don't have plans to use raw or 4k, so I've just been testing SLOG2 and the unexpectedly good bump in ISO. I go into that in the details on Vimeo so won't fully here, in short SLOG2 is a big step up in dynamic range but as it's still limited to 8 bit you should be careful with it, it's not a cure all, I was however pleasantly surprised that it didn't actually break down that much on heavy grading. I will also say the image is somehow now around 2 stops better in low light which is crazy, ISO starts at 2000 where it seems to have the same noise as a normal FS700 at ISO 640, and it goes all the way up to 64,000. Don't get the upgrade just based on these two videos obviously but hopefully there's something helpful in each of them, I didnt have the camera for long and it's with someone else now so can't do any more tests but there should be more and more SLOG2 videos coming soon from others:
A quick DR test, comparing with normal FS700 and 5Draw:
A more real world use of SLOG2, filming on the beach for a couple of hours:
If anyone wants an SLOG2 file I could put one in dropbox, perhaps watch the beach video, find a shot you'd be interested in seeing the pre graded version for and let me know.
Hope that's of some use for those looking at the update but are more interested in the non 4k/raw stuff. That I didn't have the chance to test unfortunately.
Finally here's a quick comparison of crazy ISOs, pre and post update,2 cameras shot side by side, both exposed to protect highlights, I had to increase aperture on SLOG2 version as it doesn't clip easily!:

A quick DR test, comparing with normal FS700 and 5Draw:
A more real world use of SLOG2, filming on the beach for a couple of hours:
If anyone wants an SLOG2 file I could put one in dropbox, perhaps watch the beach video, find a shot you'd be interested in seeing the pre graded version for and let me know.
Hope that's of some use for those looking at the update but are more interested in the non 4k/raw stuff. That I didn't have the chance to test unfortunately.
Finally here's a quick comparison of crazy ISOs, pre and post update,2 cameras shot side by side, both exposed to protect highlights, I had to increase aperture on SLOG2 version as it doesn't clip easily!:

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