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IMO LPowell's 50Mbps Fast Action AVCHD patch is currently the "best" setting for hacked GF1, as it's capable of slightly better IQ than LPowell's 40Mbps High Reliability AVCHD patch. However, unlike the 40Mbps patch, the 50Mbps patch is more tempermental, and has a tendency to lock up if the media card isn't fast enough, if the shot is underexposed, if the framerate is low, if you shake your camera around and anger the codec. The 40Mbps patch is bullet proof, and offers nearly as good IQ with the added benefit of peace of mind that you absolutely know your GF1 isn't going to lock up in the middle of a once in a lifetime shot.
When I'm experimenting and nobody's paying me, I'll play with 50Mbps. When someone's paying me, I use 40Mbps. I'm not sure I could tell the difference between them in an A/B, to be honest.
For the GF1 and G2 I both use and recommend my 50Mbps Fast Action 3-Frame GOP Patch. This patch is optimized especially for 720p25/30 AVCHD recording, which is ideal for the GF1 since it has neither 1080p24 nor 720p60 video modes. As long as you use Class 6 or better SD cards, it should work just as reliably as my Reliable In-Camera Playback Patch, with two exceptions in AVCHD 720p25/30 mode:...the 50Mbps patch is more tempermental, and has a tendency to lock up if the media card isn't fast enough, if the shot is underexposed, if the framerate is low, if you shake your camera around and anger the codec. The 40Mbps patch is bullet proof, and offers nearly as good IQ with the added benefit of peace of mind that you absolutely know your GF1 isn't going to lock up in the middle of a once in a lifetime shot.