Hey! You should know that Panasonic has released a newer version of this product: the Panasonic DMC-GX8.
4K video is beginning to shrink in price--the new Panasonic G7 wraps up both 4K video and 16 megapixel images into one mirrorless shooter that comes in at a surprising price.
Panasonic introduced the first compact camera system with 4K video last year with the GH4--priced at about $1,700 just for the body. The G7 (the successor to the G6) comes in at half that price yet still offers the 4K video. The G7 can shoot 4K video at 30 fps, with a high bit rate of 100 Mbps. And if you want both video and stills of the same shots, you can pull an 8 megapixel image right out of the footage.
Panasonic says they've also boosted the autospeed on the G7, using the same processor that's in the GH4. The manufacturer says autofocus lock can be achieved in as little as .07 seconds. A Low Light AF mode will come in handy here too, down to -4EV, which means it's possible to use autofocus in moonlight. Starlight AF takes that even further by enabling autofocus on a starry sky through the use of tiny AF zones. The tracking autofocus features also sees a boost, with more than twice the accuracy of the older G6, helping to keep moving objects in focus.
While the G7 has 4K video like the GH4, it's important to note the G7 is not the successor to the GH4. The GH4 has a faster 12 fps burst speed to the G7's 8. Shutter speed is also higher on the GH4. And where the GH4's battery is rated at 500 shots, the G7's is less than 400. Still, all those features don't really justify another $800, and if the price doesn't drop on the GH4, that model will likely have a tough time selling.
The G7 looks like an excellent option for photographers that shoot both stills and video. The G7 is a bit more affordable than a 4K camcorder, and can still shoot around an hour of continuous footage. There's certainly faster options out there, as well as options with the larger APS-C type, but it's tough to find 4K video for this price--that's the highlighting feature for the Panasonic G7.