After a year and a half of working with my Panasonic HDC-TM700 camcorder, both as a photo camera and video camera, and using almost exclusively the manual mode and "manual" white balance, and having tried other more recent models from the same company also in the same price range, I've come to the conclusion that Panasonic cameras all have a serious flaw in their white balance algorithm.
I've compared them with similar models from Canon, Sony, and even though the Canon was always perfect and the Sony was very slightly blueish, they were all much better than the messed-up colors of the Panasonic models.
All pointing to the same outdoor scene consisting of a sunny day in spring, with some white snow on the ground in plain sunlight, and colored cars also in the sun.
For a $1000 camcorder, I would have expected better performance.
What good is it to have 3 cmos sensors if the camera can't balance their individual gain properly ? And I'm not even talking about full auto white balance mode which keeps on changing constantly even though the lighting or subject hasn't changed in the scene !
I'll be using Canon or Sony products from now on. Panasonic is on my black list from now on.