This may have been mentioned before, but I just "grokked" another benefit of the GH2's new Extra Tele Conversion function: When used with a non-constant aperture zoom lens, ETC can make the lens "faster/brighter" in certain situations.
Instead of zooming the lens itself (and thus darkening the image because of the lens' non-constant aperture), using ETC "zooms in" w/o affecting exposure.
So, for example, the relatively inexpensive 14-42mm kit lens can be used at its 14mm focal length @ f3.5 max. aperture, but with ETC yields 36.6mm (2.6x) w/o ramping the f-stop and darkening the image.
Another benefit: ETC "looks through" the center of a lens, usually the sharpest part.
It'll be interesting to see how well an Extra Tele Conversion shot intercuts with the same scene & lens setting recorded w/o ETC. (e.g.: Cutting back & forth between the wide shot & the ETC close up.)
Cool stuff.
EDIT: Oh, and there's also the effect that the ETC "zoom" doesn't change the depth of field. So, for example, if a 14mm lens is in use when ETC is turned on, the resulting angle of view will be that of a 36.6mm lens, but the DOF will be that of the 14mm lens.
Yes I was also hoping that so, depending on how it all turn out because it would then mean that I can do away with buying 100-300 lens that I had my eyes on and instead buy the GH2 and let 14-140 to do 100-300's role. If anything 14-140 will have far usable range at the wide end.