I'm on a tight schedule but managed to revisit the GH1 with hacked firmware during this weekend. What I can do is to compare it to Canon 5D mkII and Canon 7D. These cameras have been my main cameras for the last six months and I really like the result.
Some things become very apparent and it's handling of the GH1 compare to 5D2/7D. The Canon cameras are much better. They feel sturdy, have more buttons to change parameters on the fly, they do allow HDMI monitoring while shooting (which is essential) and the final images look really nice. But they both have two disadvantages. They do have much more moire and aliasing than GH1 and they have less resolution. Actually both 5D2 and 7D has higher resolution from the sensor but the way the camera down samples the signal, much is lost and distorted introducing moire and aliasing.
When comparing images this is the main thing that separates the different cameras. The GH1 is superior really.
In one area the GH1 fails. It has a fixed pattern noise, as do most CMOS sensors, and when underexposure it becomes apparent. With care you can set up scenes and it will look great from the GH1. But it does limit the camera in the same way the Canon 5D2/7D do with the high level of moire and mostly aliasing. It's like apples and pears. Two bad things.
When you use the magnify function on either camera you really see how high resolution the Canon cameras have. This is real sensor resolution and this is one of the reasons we accept footage from the Canons. The other reason is the image pop Canon always have had. Colours are full and it's a contrasty image, it looks really nice. Every time you steer clear of most of the aliasing it looks truly great.
The low bitrate in the GH1 introduced alot of mud. Hacking the firmware and increasing bitrate takes away almost all of the mud issue. I've never seen a mud issue on either Canon.
If you look at the display on each camera and when I now revisit the GH1 I really dislike that display. In comparison with what's on either Canon camera it's lower resolution and has to much image lag introducing ghost images and smearing. Same thing with the viewfinder and I do think it's to small and has to rough edges to be comfortable to the eye and when pressing your nose towards the camera.
In the end lack of monitoring makes this camera useless in most situations when doing commercials. It's fine to be used as a B-camera or when shooting features. But forget about commercial work if you do have clients on set. In a couple of weeks the GH2 will start to appear in stores. My hope is that this camera will solve this issue but it seams another issue is introduced - no 25p! Come on Panasonic give PAL world a high bitrate PAL codec!
25p on the GH1 or GH13 as many calls this hacked camera looks sweet and it puzzles me they have no 25p in the GH2. In the test footage I took this weekend, 25p in high bitrate mode, it looked truly great. I did some grading and it held up very well also. Will I have to turn to the AG-AF101 for 25p? This seams to be the case.
Speaking of the AG-AF101, one store in Sweden has finally a price on the body - $8240!!!! inc VAT but what the fuck!