On my own experience, I would say not so sure as I am very pleased with the result I am getting out of my GH1, GH2 and now GH3. And my GH3’s video is not making a huge difference compare to what I got with the GH1 or GH2. I am still using the hacked GH1 every summer, as a copy is stored in my home country (France) and I love its color rendition compare to GH2/3. FYI, I am living and working in China since 9 years.

Every year I am shooting a short movie or an experiment with the hacked GH1. Some complained about the AVCHD format, but I never got problem in post with it as I am using Premiere CS6 on a powerful enough PC (Dell M6400). I also tested heavy color grading without problem on my GH1 footage, as you can see here on the following videos. Sorry one of the short film doesn’t get English sub yet, but I am posting a link to those video for their visual quality first, so enjoy that part. La Deuche from Hell HD (US sub Version) (there is a longer French version too)

Revolverte HD (F)

In China, I am also using my GH camera beside a Panasonic AF100, which is well known to NOT be the most exciting camera on the market (4:2:0 8 bits, AVCHD at 28MB/s, what a shame!). I had to buy an AF100 as no serious client in my field would accept to pay my usual fee (I was working with a HVX200 + Letus Ultimate prior to the AF+GH) if I were shooting with a GH2 only. After 2 jobs my AF100 got paid back and I can enjoy the use of it with my GH2 and GH3 on project now. ,

AVCHD, 4:2:0, bits… Nevertheless, I shot this Making Of video on huge project with my newly arrived AF100 and GH2 (not hacked yet). Production house, agency and client were delighted by the result. I did everything: shooting, lighting (for interview), sound recording and editing… I am a one man crew shooter (kind of MacGyver sometime) and I prefer to keep things, cheap, simple and light. CrossPolo TVC Making OF HD (US)

To keep the story short, since 2012, I had completed bunch of projects with my M43 equipment without any complain from clients (VW, Audi, French Consulate, TV Channel…) and I might invest in the GH4 if it solves the 3 main problems of the GH3: Viewfinder definition (GH3 is a nightmare compare to GH2 for manual focusing) + real video assistance (Peaking + zebra + waveform) + full time display of histogram and sound recording level while shooting.

4K or higher bit rate are not important to me as my video will NEVER be projected on a big screen and the file of the GH3 are already big enough in term of storage. Quality wise, I really like some of my GH1, GH2 or GH3 shots, and I don’t see much of a difference in term of emotion, and I think this is a more important feature for an independent filmmaker than pixel count or comparing numbers on data sheets…

You can see more of my work here: http://vimeo.com/channels/659428/videos

This music video was shot with a Sony Fs700 and Samyang lenses.

Check the shots at night, they were all made at 50 fps, without help of any speedbooster, just the combination of the Samyang lenses and the right exposure.

We had no help of any kind of light equipment, because we didn't have the budget... just the street lights. For those who are thinking to buy this camera, I can just say that the Sony Fs700 is really a good deal for what it can deliver. See for yourself. And the grain... was put on purpose on post-production to have that dirty effect.

http://blogs.adobe.com/premierepro/2013/09/adobe-premiere-pro-cc-october-2013-release.html

There is a ton going on with this update, but this paragraph is what has me smiling.

"Color is becoming increasingly important throughout an entire production workflow, and the addition of the Lumetri Deep Color Engine in the June 2013 Premiere Pro CC release gave editors the ability to work with beautiful SpeedGrade grades right inside the application. With this release, SpeedGrade has fully implemented the Mercury Playback Engine from Premiere Pro, and a brand new workflow between the two applications is being introduced, namely Direct Link. With Direct Link, editors can save a project in Premiere Pro and then open the sequence they were working on directly in SpeedGrade, with no need to deal with interchange formats or any kind of conversion. SpeedGrade then opens the sequence in a familiar timeline that more closely matches how you work in Premiere Pro. You can access all the clip edit points, transitions, and layers, using the same track layout as Premiere Pro. From there, create your grades, and then reopen the same project in Premiere Pro with all your color work fully intact. This workflow uses no interchange formats and no importing or exporting – it’s just the same Premiere Pro project moving between the two applications."

A quick demo of the capabilities apparently. I guess this whole CC thing has some merit update wise.

http://tv.adobe.com/watch/adobe-at-ibc-2013/adobe-premiere-pro-cc-speedgrade-cc-direct-link

And, It's breakdown;

http://mohitseb.com