Don Kotlos

Trust me, I have my hands on some ProRes and DNG materials from the camera (acquired from NAB), it's clean af up to about 6400. Noise pattern is very pleasant fine grain, due to lack of compression obviously. The sensor is confirmed to be IMX294CJK, it's the STARVIS line from Sony Semicon with BSI design, originally intended for low light surveillance.
ProRes screenshot:

I didn't see that correlation anywhere, but yes I agree that a "good" 1080p is more than enough. But unfortunately with most cameras in this price segment (other than BM and GH5/s) to get a good 1080p means you have to shoot at 4K and convert to 1080p in post. 

It looks like you can still use the normal 2.5" drives since the connector and protocol are the same, but it will stick outside a bit. The newer sata SSDs have small motherboards so potentially you could change the SSD in the caddy III yourself,  or you will have companies that sell just the caddies like they do with caddy II. 
"Ninja V also works with Master Caddy II"
https://***URL removed***/news/2271297858/atomos-unveils-the-ninja-v-a-5-2-inch-4k-60p-external-monitor-and-recorder
Also the Atomos guy says this supports ProresRAW but there are no cameras yet that do that over HDMI so we should "knock the door of the manufacturers and ask for it". 
 

Here is an interview where Sony admits that there were no sensor/electronic changes in FSII. Only a firmware update. Still the FS5I will remain in the market and the FS5II will be the "big brother". 
Does anyone remember another company releasing a firmware update as a "new camera" ? 
I think it would have been much better if they announced yet another payed firmware update with the improved "color-science" or upped the price to $7K but include 10bit/4K 60p. 
 

My first look is live! HOLY CRAP THIS CAMERA ROCKS!! 
 

I wouldn’t think so, the ProRes is gorgeous on the Pocket and Micro. And with you being an FCPX user, it may make the most sense. 

Since almost all of use are going to have this soon, I believe it's time to rename the site  
It even has phantom power. 

If you’re at NAB, you should walk by the Z-Cam booth... you’ll probably find a Z-Cam E2 prototype in the trash. 

Looks like that is it not so big at the end (only chunky):

Since almost all of use are going to have this soon, I believe it's time to rename the site  
It even has phantom power. 

Since almost all of use are going to have this soon, I believe it's time to rename the site  
It even has phantom power. 

https://webcache.googleusercontent.com/search?q=cache:kTrmvUvy9xkJ:https://***URL not allowed***/blackmagic-pocket-cinema-4k-camera-hands-on-with-ceo-grant-petty/+&cd=2&hl=en&ct=clnk&gl=us

https://webcache.googleusercontent.com/search?q=cache:kTrmvUvy9xkJ:https://***URL not allowed***/blackmagic-pocket-cinema-4k-camera-hands-on-with-ceo-grant-petty/+&cd=2&hl=en&ct=clnk&gl=us

The price will intimidate many GH users. A large chunk of them like to think that their camera is the very best: anything more expensive is stupid overkill and anything equal or less is garbage. This price bracket seems to be where the most fragile egos exist. 

Not missing anything, your assumption is correct. 
I will admit that this is the strangest new camera release that I have ever seen. Even Canon would not pull something like this. 
The PXW-Z280 on the other hand is the most interesting having 3 EXMOR-R sensors and records 4K 60p 10-bit and XAVC-I. But at $7K it is by far the most expensive "handycam" that I know about. 

Funny how it took them 30 seconds to announce the ¨new¨ camera and go through the features. Kinda disappointing, although good that they are pushing for better colours.
Why couldn't they just add the new colour science via a firmware upgrade to the old model or am I missing something else here?

Yeah I just looked at the post 43rumors and that’s how I read it too. Of course, I would mostly shoot ProRes anyway, so I’d be more than happy with internal ProRes Raw, up to 60p (crossing fingers)

I'd just say: don't underestimate good ibis - you can accomplish fast documentary interview with many changing angle simply handheld (and GH5lock mode) You can penetrate to the forbidden places and still shot comfortably and... feel yourself as Indiana Jones...

To my eyes it looks like the camera is the same shape as before but has been placed in front of some other unit? Perhaps like the Panasonic YAGH or another camera?

That's the most exciting news until now!!!

Funny how cineform raw existited since 2005 and is open source and platform independent but companies drag their feet. Whereas when Apple does something that is restricted toac ecosystem they implement it before it even gets released. I do belong to the Mac ecosystem and while the proresraw might offer faster performance I hate the closed system strings that apple attaches. 

That's the most exciting news until now!!!

Funny how cineform raw existited since 2005 and is open source and platform independent but companies drag their feet. Whereas when Apple does something that is restricted toac ecosystem they implement it before it even gets released. I do belong to the Mac ecosystem and while the proresraw might offer faster performance I hate the closed system strings that apple attaches. 

That's the most exciting news until now!!!

That's the most exciting news until now!!!