Now that you own a GH2 move to the dedicated forum for the GH where your questions can be answered in more detail, that said:
I would hold off on hacking the GH2 for a little while, a lot of work is going on to find great and stable settings but it's not quite there yet.
<Beyond better compression, what else does the hack do?> Most of the testing being done now is to raise the bit rate, improve the cadence appearence and change the I frame-B frame frequency. A lot of really smart people are literally working night and day testing every parameter that can be changed, unless you're a professional code writer I would stand back and let them have at it for a while.
I would hold off on hacking the GH2 for a little while, a lot of work is going on to find great and stable settings but it's not quite there yet.
<Beyond better compression, what else does the hack do?> Most of the testing being done now is to raise the bit rate, improve the cadence appearence and change the I frame-B frame frequency. A lot of really smart people are literally working night and day testing every parameter that can be changed, unless you're a professional code writer I would stand back and let them have at it for a while.