I bet the APS-C Sony A3000 with 18-55 zoom for $398 takes videos of equal quality as this and with higher quality versions coming soon with both APS-C and full frame sensors . The GH3 is the MFT camera to get for video use.
It looks like Sony will be giving Olympus some advanced sensors in the next few years.
I got many new rumors about the Olympus-Sony partnership. Apparently the partnership on the camera front is much more tight than you could think by reading the official press releases. In short:
1) All the best tech from Olympus like the 5 axis stabilization, JPEG engine, lens knowledge are already being implemented in the soon to be announced Sony A and E-mount cameras. We will see them in use on Sony cameras by end 2013 already!
2) Olympus will receive some literally “Amazing” sensors from Sony. 2014 sensor will be improved tech based on today’s sensor tech (with on sensor PDAF for example). From 2015 on completely new kind of sensors will be used that will be more advanced than the sensor tech show recently by the Panasonic-Fuji duo. More about that in a future 43rumors post.
This comes from highly trusted sources. And if all works fine I could give you soem details about the 2015 sensors soon. Stay tuned!
They did add a mic jack, and they upped the bit rate to 24mpbs - but it is limited to 30p only. No 24p, 25p, 50p or 60p. Not even 720/60p.
I agree with Andrew Reid at eoshd - this camera is likely another video fail from Olympus - especially when they want $1399 for it.
For shooting hand held Youtube videos this EM-1 appears to be superb and better than the Panasonic GH3 Why? 1) Superb video clarity, brightness and sharpness due to no anti-alaising filter. 2) Superb 5 axis image stabilization, 3) No moire when panning, 4) effective continuous auto focus when shooting moving subjects, 5) famous rich looking Olympus colors vs oddball, semi-realistic Panasonic colors 6) Rich audio quality. 7) Small camera size. Review of the EM-1: including it's video capabilities at about the 4 minute, 35 second mark http://www.youtube.com/watch?v=86ND5X8SjSQ