IronFilm

#1 wish: give us zero delay SDI output!! (they can go with DIN instead of BNC if they need to save space, no big deal, one of my old Atomos monitors already uses DIN instead of BNC)
  
Oh snap! We posted this at exactly the same time. 

Unfortunately the S5 IIX only does 1080 ProRes internal recordings. I hope they add 2K ProRes as well! Because that's a very common resolution with ProRes. And SD cards can handle 2K. (and the SD cards is why it doesn't have 4K ProRes, and records to an external USB drive instead)

The other big problem for Panasonic is there no upwards path to progress with the L Mount. 
Desperately there is an EVA2 with an L Mount that is needed! (so very sad that a EVA1 MFT never happened 😕 ) 

Seems the cinema camera division at Panasonic has been gutted, so I guess an EVA2 (of any sorts) won't be happening? 
If a future EVA1 sequel will never happen, and the LUMIX team have to step up to the plate, then perhaps a "Panasonic BS2H" is what is needed?? (an updated BS1H!)
Apparently the boss of the cinema division now works in the LUMIX division, and I'd say that is very very very good news indeed! Gives me hope for a future "Panasonic BS2H"
This BS2H could have dual SDI outputs (with zero delay, and independent), plus internal NDs, and that would make everyone very very happy. (plus of course keep everything good about the BS1H, and bring over all the goodness of the S5mk2)

Theoretically a person could have a custom V-log to S-log LUT in their S5mk2 camera and be able to smoothly shoot alongside Sony cameras as well? Hmmm
Could (kinda... half way) "fix" one of the other big negatives about the Panasonic cameras: "it is not Sony". 
As Sony is the dominant player in the pro market for anything low to mid budget (i.e. "not ARRI"). So very frequently you'll see a Sony Camera Op being requested, so that they smoothly integrate in with their existing workflow. 

If you're starting from scratch, I can't think of any reason why I'd go for the a7mk4 over the S5mk2
(maybe there is some weird hyper niche reason "why", like maybe there has never been a underwater deep diving case made the S5 and exists instead for the a7mk4?? But I doubt that reason exists)
  
The FX3/FX30 have a better UI for video shooting with, it's purpose built around that. And has the edge in image quality too. Plus has TC, that the a7 & a7S series cameras lack. 

If you're starting from scratch, I can't think of any reason why I'd go for the a7mk4 over the S5mk2
(maybe there is some weird hyper niche reason "why", like maybe there has never been a underwater deep diving case made the S5 and exists instead for the a7mk4?? But I doubt that reason exists)
  
The FX3/FX30 have a better UI for video shooting with, it's purpose built around that. And has the edge in image quality too. Plus has TC, that the a7 & a7S series cameras lack. 

Theoretically a person could have a custom V-log to S-log LUT in their S5mk2 camera and be able to smoothly shoot alongside Sony cameras as well? Hmmm
Could (kinda... half way) "fix" one of the other big negatives about the Panasonic cameras: "it is not Sony". 
As Sony is the dominant player in the pro market for anything low to mid budget (i.e. "not ARRI"). So very frequently you'll see a Sony Camera Op being requested, so that they smoothly integrate in with their existing workflow. 

Just like you pick the appropriate FoV to tell the story that needs to be told for that shot, you also need to pick the appropriate DoF that matches what the film needs. 
Once you've got that equal for both, then compared to the FX30 any FF camera is going to be at a one stop disadvantage (all else being equal). 
The other alternative is ignore the resulting DoF difference between the two cameras, make the 1st AC hate you, make the Art and Location Departments' work go to waste, and let the actors be lost in the bland blurred space they're in. 
Moral of the story is: you can't only look at a FF cameras' strengths while totally ignoring their handicaps. 
To make it fair comparison when discussing the noise performance that has to be taken into account. 
If you don't need to work with other people (i.e. Sony shooters!), and don't need TC (I work with that on basically every shoot! Very very very rare I don't), then it sounds like the S5mk2 is the perfect camera to shoot with for you!

Welllllll..... you kinda sort of ish get half of that for less with the Panasonic S5mk2! 😉

Good. Back to "Panasonic and what they have up their sleeve." ... not M43 vs. FF. Thank you!

Ok. Can you cover 16mm-ish to 600mm (FF equiv.) in under 1kg with ANY single FF mount kit? How about 2kg? 3kg? That's what I'm saying. There are lenses in M43 with simply with no equivalency in FF in terms of weight. When you do find a lens, you won't find the other lens you need in the same mount.

I really don't get the reason why people who have FF cameras are so disturbed by the mere existence of M43. Can't we let M43 be M43 and FF be FF- it's all good. If you like the image format and size, great! Why does one have to be inferior? They both do things that the other cannot do. I think there's the inconvenience. It would seem that people want simplified answers- bigger sensor, more megapixels, high bit rate, etc. I'm not saying those thing don't matter, but there are other things too. Cameras have ergonomics, exposure tools, ports, EVF's, image fidelity, etc. None of that is "Full-Frame" or "xx megapixels" or "intra-frame compression". So many cameras produce great images these days, even good enough for Hollywood. After, it becomes the best tool for the job and needs.

You're comparing lenses that don't exist to ones that do. A f2.8 is a f2.8 regardless of whether the lens is M43, APS-C or Full Frame. You can add all the qualifiers you want, it doesn't change the fact that the full frame equivalent to most M43 lenses are substantially heavier AND more expensive. Let me know when you find a 24-70 with a constant f2.8 that is even remotely close to the 12-35 f2.8 in weight. Ditto the 35-100, or the 100-300mm f/4-5.6. 
It's easy to get shallow DOF with M43 except when shooting ultrawide unless the lens has a close focusing distance. It is insane that people discredit an entire system in part because it isn't easy to get enough toneh.

@John Matthews GH5II in GX80 size please, with it´s absence of digital oversharpening, 10bit 4k60, S16 mode and all the other goodies. Thank you! 🙂

Yep but I don't care. Function over form every day of the week. 
'Filmaking' has become all about the pose factor recently. 
If the way a camera looks deters you buying it tge your priorities are wrong and I'd question your ability too. 

It basically seems like Sony has been holding out on PDAF for Panasonic cameras for years and they are finally letting them license PDAF on a sensor that is older and that Sony will probably never use again - so why not milk it for some more money since Panasonic's only big gripe against it is the bad AF?
To be fair, that sensor is gorgeous on Panasonic cameras (not so much Sony's), and the S1H still has the best 24fps IQ of any mirrorless camera out there. 
IF Panasonic can dramatically improve the HDMI latency (full-sized, yay!), add internal ProRes, and the AF is as reliable as some of the competition, The S5 II will be very tempting - especially around $2000-2200... It's basically an S1H but much smaller, cheaper, better codec (ProRes), and much better AF (ostensibly). And when you look at it that way, sounds pretty sweet to me.
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I am curious what they are going to do with the S2H (or S1H II) though, as that camera will have to feature 120fps 4k, no crop, probably 8k, internal ProRes, and so many other video goodies. It almost seems like they should just make a BS2H and soup-it up to the max and go all out on video and then the S5 II can be their hybrid. 
 
 

Nothing.
Except if you are a hybrid shooter like me with a prime and flipping between stills and video all day long!
That 28mm…well the framing was great for those stills, but then I flipped to video and it’s more like 42mm and I can’t back up to match as I was already backed up to the wall!
”So just shoot FF or APSC!”
Well I could but I like what I get from my Lumix cameras so I work around it by having cameras and lenses dedicated to certain things at certain times.
It is a workaround but one I can live with if I have to and for most of the video side, I actually use a 28-70mm f2.8 to which I have just added a 16-28 giving me options more like 24-42mm and 42-105mm and I tend to use the wider angle as my indoor lens and switch to the longer zoom as my outdoor.
I then only use the extreme ends (as if they were twin primes) so indoor I shoot 24 and 42 and outdoor 42 and 105 which as with any focal lengths you become used to, gives you a ‘look’ that you just know how to work with.
I have the above set up with the S5 dedicated to indoor (and gimbal outdoor) and the S1H outdoor.
This is possibly where I might just trade both cams for one single S5ii and keep my S1R’s…
 

That
is an unambiguous and obvious clue to what we all been waiting for the past 5 years! Hurray comrades! 

Ha!  I ain't gonna lie.  
I bought a GX7 back in the day because it was silver and looked like a rangefinder.  The specs matched most other cams in that range, so what it looked like was the thumb on the scale for me.  Funnily enough, that damn thing had the best out-of-the-box-IQ of any LUMIX camera I owned before or since.
Then I lost it.  [Sad face]

New year New Phase: 4th january
 
 

I'm not trying to beat a dead horse here but what's wrong with 4K@60p being APSC?
Full of S35 cinema camera out there.

https://www.l-rumors.com/fully-leaked-s5ii-s5iix-and-14-28mm-specs/

Looks like that the X have ProRes and IP streaming functions. Still, strange to have a specific model just for that.

Personally I think the Panasonics are some of the best looking cameras out there but it’s not important.
What’s important for me is that the evf and the af are top notch and that the af works flawlessly with Sigma lenses as well. I’ll even forgive a 4k 50p crop if they’ve got the rest right.

Looks matter I think, to a degree, in regard to overall ownership and enjoyment, but to me are one of the lowest considerations.
If a camera was say round pink plastic and had the word BARBIE on it, yes, I might deduct points, but the difference between one black box and another is marginal.
There are some very sleek designs out though such as Hassie X2D and I love the film Contax G2.
By comparison, the Panasonics are arguably 'a bit dull' as are many of the Sony's but I actually love the look and form factor of their FX3/30.
 

Seriously?
Who the hell cares and why. It's a tool, if its nice to use and produces great images, what does looks matter?