@B3Guy have you really seen that much difference in post over say the 132M GOP3 or the 66M AQ2 ? As the quality in terms of compression is lower in the GOP1 than the longer GOP settings, I'm pretty sure the difference would be negligible though. The main quality improvement of GOP1 would be less smearing of noise or motion as far as I could see.

have you tried the latest GOP1 stuff from Driftwood? I've found it to be about as good as I would expect a hack to be at reducing banding (keeping in mind that this ultimately is and always will be and 8-bit 422 camera). Bumped up to 400 or better 800 ISO, the GOP1 stuff pretty much smooths over all but perhaps the worst banding situations. If you're intentional with your lighting, I don't see why you'd have any significant banding problems from here on out. And yes, I HAVE been color correcting and grading these clips, and let me tell you . . . WOW! this latest GOP1 stuff really is heaven in post. That's where the big difference is. I can push the grading all over in extreme contortions, and the mud and banding and junk . . . just. aren't. there. Its really great, and totally worth the huge file size.