Zak Forsman

Just to confirm and recommend also. Temporal noise reduction segment is, in fact, pretty fast and accurate - in many case even totally adequate and sufficiеnt. With newer Resolve incarnation noise reduction is not longer so to say "pain in the ass".

oh yeah, the GH series is definitely well-suited to your needs. but the notion that one camera "beats" another is pretty dumb. we all know you choose the tool that suits your needs, and yet, we see comments like: the GH5S's low light ability "redeems" panasonic for the EVA1. it doesn't do that any more than a new coffee maker from Panasonic redeems their latest espresso machine for being too complicated -- some people need the flexibility to pull the perfect espresso shot, others want to hit one button to make coffee. it's not a competition.
FYI -- Jon, i don't know if you use Resolve but the NR they implemented in v12.5 is inches away from what Neat Video can do, but a lot easier to work with. It's pretty darn good.
hopefully youtube isn't hiding the same issue and this Venus Engine's NR is an improvement over the GH5. fingers firmly crossed.

oh yeah, the GH series is definitely well-suited to your needs. but the notion that one camera "beats" another is pretty dumb. we all know you choose the tool that suits your needs, and yet, we see comments like: the GH5S's low light ability "redeems" panasonic for the EVA1. it doesn't do that any more than a new coffee maker from Panasonic redeems their latest espresso machine for being too complicated -- some people need the flexibility to pull the perfect espresso shot, others want to hit one button to make coffee. it's not a competition.
FYI -- Jon, i don't know if you use Resolve but the NR they implemented in v12.5 is inches away from what Neat Video can do, but a lot easier to work with. It's pretty darn good.
hopefully youtube isn't hiding the same issue and this Venus Engine's NR is an improvement over the GH5. fingers firmly crossed.

No idea if I should be happy or sad...
 

Adam Wilt provides what I'd say is probably the best review of the camera. Not "best" as in positive. I mean "best" as in the most comprehensive without exaggerating the impact of its highlights or shortcomings. Just straightforward reporting of his findings. Definitely a worthy read for any owners or potential buyers.   
https://www.provideocoalition.com/review-panasonic-au-eva1-4k-cine-camera/
 

I would also point to a very important observation by @AaronChicago...having a camera that can shoot in the dark can be a novel concept as with the A7s years ago, but beauty in Cinematography comes from light and how a good Gaffer shapes that light....being able to shoot in the dark may work for a brief emergency shot you have to get (referring to narrative of course) but as ugly as a midday image without the correct shade and bounce is, the equivalent is true for shooting practically in the dark...just the other side of the spectrum to shooting in noon sun...the image in both cases is flat and uninteresting...it's light in whatever form you use it, that creates the beautiful imagery we drool over in the Cinema...the camera comes fairly far behind that...that's maybe the biggest reason for me not rushing to get in a pre order....I don't shoot in the dark and the GH5 gives me a more than adequate night shot, of say cars moving by in a wide city street shot....if there are people in the shot and they are significant to the story, there would be lights too.

in the forum here, I believe Luke said he was told "2 additional stops". and I think he and many others made an assumption and added that up to 14 stops. i think that's where the confusion comes from. Luke also noted he didnt see a difference in the dynamic range between the GH5 and GH5S other than better highlight roll-off. That's why I think the "2 additional stops" refers to two more usable stops due to the cleaner image.

No, when you move away from a base/native ISO, you lose dynamic range the further away you get. With the GH5S, the dual native ISO reclaims those lost stops at 2500, that you would have lost on the GH5 if you were just gaining up from the native ISO 400. So a GH5 at ISO 2500 will have less dynamic range than a GH5S at 2500. But put them both at ISO 400 and they will both be the same. That's the thing many are missing about the dual ISO function. It's less about noise, and more about maintaining equivalent dynamic range at two ISOs.

No, when you move away from a base/native ISO, you lose dynamic range the further away you get. With the GH5S, the dual native ISO reclaims those lost stops at 2500, that you would have lost on the GH5 if you were just gaining up from the native ISO 400. So a GH5 at ISO 2500 will have less dynamic range than a GH5S at 2500. But put them both at ISO 400 and they will both be the same. That's the thing many are missing about the dual ISO function. It's less about noise, and more about maintaining equivalent dynamic range at two ISOs.

Something to chew on.

Ha, sorry no fanboy here. I’ve tried almost every single brand of camera over the past 3-4 years... Hell I even had a Pentax.
And yeah, Speedboosters are cool but honestly, I am sooo tired of adapters. I have two boxes full of adapters in my closet, so anything over an 1/8” thick... I’m uninterested. So as far as native systems go, Canon lenses are the best, dollar for dollar, plus the plethora of third party lenses available in the EF Mount.
I was a little bummed not owning a camera for my Minolta lenses, but sure enough, I just found and bought my favorite lens of all time... the Minolta MC 35mm 1.8 that was converted to EF Mount. In a few months, I’ll add the 58mm 1.2 that is a breeze to convert with a Leitax adapter.
Lowlight is a marketing buzz word. I can get clean 1600 ISO on an f/2 lens with my 5D3 and acceptable 3200 with a 1.4... nothing a little Neat Video won’t clean up... I don’t really need any more than that and if I do, I’ll flip a switch.
Honestly, since this is primarily a hobby for me, I will mostly shoot Raw going forward and how can you beat 4K Raw up to 60p with DPAF? Btw, the C200 is pretty good in lowlight.
Sorry, it should have read... Are we really discussing wide depth of field to argue that the GH5s is as good in lowlight as FF, especially the a7s?

Sir Adam Wilt, so to speak ;-)

Adam Wilt provides what I'd say is probably the best review of the camera. Not "best" as in positive. I mean "best" as in the most comprehensive without exaggerating the impact of its highlights or shortcomings. Just straightforward reporting of his findings. Definitely a worthy read for any owners or potential buyers.   
https://www.provideocoalition.com/review-panasonic-au-eva1-4k-cine-camera/
 

Saying it outperforms at high ISOs seems obvious on the surface, but it's not that simple. Keep in mind that the GH series has 4 available stops over middle gray. The EVA1 has 6 stops over middle gray. You could overexpose the EVA1 by two stops and still have the same amount of room in the highlights that the GH5S has. and it will look just as good or better when you bring it back down in post. Also The GH5S is likely employing NR at higher ISOs, the EVA1 isn't. Giving you more flexibility to remove it with greater precision in post.
Beyond that the EVA1 also gives you more dynamic range, more detailed resolution by oversampling from 5.7k, V-Gamut offers a much wider color gamut, no lag from the HDMI output, and no internal sharpening. The EVA1 definitely has its shortcomings, but there remains many advantages for it over the GH series.

yep, that’s possible. and check this out... this is from the GH5, and recently posted on facebook to make the point that you can adjust the highlight knee, but if you showed these to someone without that info they’d assume one had higher dynamic range.

No, when you move away from a base/native ISO, you lose dynamic range the further away you get. With the GH5S, the dual native ISO reclaims those lost stops at 2500, that you would have lost on the GH5 if you were just gaining up from the native ISO 400. So a GH5 at ISO 2500 will have less dynamic range than a GH5S at 2500. But put them both at ISO 400 and they will both be the same. That's the thing many are missing about the dual ISO function. It's less about noise, and more about maintaining equivalent dynamic range at two ISOs.

No, when you move away from a base/native ISO, you lose dynamic range the further away you get. With the GH5S, the dual native ISO reclaims those lost stops at 2500, that you would have lost on the GH5 if you were just gaining up from the native ISO 400. So a GH5 at ISO 2500 will have less dynamic range than a GH5S at 2500. But put them both at ISO 400 and they will both be the same. That's the thing many are missing about the dual ISO function. It's less about noise, and more about maintaining equivalent dynamic range at two ISOs.

No, when you move away from a base/native ISO, you lose dynamic range the further away you get. With the GH5S, the dual native ISO reclaims those lost stops at 2500, that you would have lost on the GH5 if you were just gaining up from the native ISO 400. So a GH5 at ISO 2500 will have less dynamic range than a GH5S at 2500. But put them both at ISO 400 and they will both be the same. That's the thing many are missing about the dual ISO function. It's less about noise, and more about maintaining equivalent dynamic range at two ISOs.

The key comment is lowlight... the GH5 doesn’t have 12 stops at ISO 6400. So at 6400, the GH5s may have 11 stops... never underestimate the word play of a marketer/salesman.
@webrunner5

Well we all must admit this thread has at least been exciting to put it mildly.
You lost me with the FS700, that camera had the worse image ever in a Sony camera. I really doubt the GH5s is going to be proved to have a shitty output.

This must be how Filippo Chiesa felt when his short for the EVA1 was released. He did his own re-grade and released it a few days later. Sorry, man.

official press release
https://www.43rumors.com/panasonic-gh5-press-announcement/
Panasonic Announces the Ultimate Hybrid DSLM with a newly developed 10.2MP High Sensitivity MOS sensor
Introducing the LUMIX GH5S: Exceptional Mirrorless Videography and Photography, designed and developed for professional filmmakers
• Introducing a newly developed 10.2MP High Sensitivity MOS sensor for enhanced image quality in low light: Allowing up to 51,200 ISO recording without extended ISO.
• Time Code IN/OUT for easy synchronization of multiple cameras and Dual Native ISO, providing low range (400) and high range (2,500) ISO environments.
• True “Multi-Aspect Ratio” Function in Both Photo and Video
Las Vegas, NV (January 8, 2018) – Panasonic is proud to introduce the new hybrid Digital Single Lens Mirrorless Camera LUMIX GH5S with expanded video recording capability and enhanced image quality. Designed and developed for professional filmmakers, the LUMIX GH5S achieves highest-ever image sensitivity and video image quality in the history of LUMIX cameras, especially in low-light situations.
Packed with big features to satisfy demanding photographers and videographers alike The new 10.2-megapixel Digital MOS Sensor with Dual Native ISO Technology and Venus Engine 10 faithfully reproduce even dark parts of the image, allowing high ISO capture when the use of supplemental lighting may not be possible. This sensor is a multi-aspect type with a sufficient margin for realizing the same angle of view in 4:3,17:9,16:9 and 3:2 aspect ratios. The sensor also enables photo shooting in 14-bit RAW format, providing higher flexibility for professional RAW stills development workflows. When shooting in dark environments, videographers can now focus on filming that perfect shot as they no longer need to worry
about noise which often results from having to use higher ISOs. The Dual Native ISO Technology suppresses noise to produce cleaner footage when taken in all light. Both videographers and photographers can now enjoy the same diagonal field of view across all aspect ratios with the True “Multi-Aspect Ratio” Function. This feature means you can easily swap between difference aspect ratios giving you the accuracy you want from your lenses, and making the process easier while producing and editing in post-production. The LUMIX GH5S is compatible with Time Code IN and OUT, like the professional camcorders, which is easy to set using the flash sync terminal and bundled conversion cable for a standard BNC terminal. This is especially important for “lip synchronization” when using multiple cameras.
The LUMIX GH5S can be used as Time Code generator for other GH5S cameras and professional camcorders. The Time Code IN/OUT functionality makes a production teams job pain-free as it provides synchronization for both video and audio devices used on multi-cam productions.
The LUMIX GH5 achieved 4KUHD 60p video recording for the first time as a digital mirrorless camera in 2017.2 The new LUMIX GH5S establishes a new milestone by realizing the world’s first 4K 60p video recording in Cinema 4K (4096×2160), 3 capable of internal 4:2:2
10-bit video recording up to Cinema 4K30p and internal 4:2:0 8-bit Cinema 4K60p. This is a color subsampling commonly used for film production, for even more faithful color reproduction.4
The LUMIX GH5S also records 4:2:2 10-bit 400-Mbps All-Intra in 4K 30p/25p/24p and 200- Mbps All-Intra in Full-HD.
Continuing the LUMIX GH tradition, there is no time limit for both Full-HD and 4K video recording. The LUMIX GH5S complies with 4K HDR video with Hybrid Log Gamma (HLG) mode in Photo Style. A low-bit-rate recording mode, 4K HEVC for HLG, is available. This enables playback on AV equipment compatible with the HLG Display format, such as Panasonic 4K HDR TVs.
The VFR (Variable Frame Rate) function lets users record overcranked (time-lapse) and
undercranked (slo-mo) video in C4K/4K (60 fps, maximum 2.5x slower) and FHD (240 fps, maximum 10x slower). A V-LogL and Rec.709 LUT (Look Up Table) are pre-installed in the camera, so users can play videos recorded in V-LogL without having to separately purchase a Software Upgrade Key. Four additional LUTs can be installed using the Panasonic Varicam (.VLT) file format.
DFD (Depth From Defocus) technology and ultra-high-speed digital signal processing achieve fast auto focusing of approximately 0.07 sec 6 with 12 fps (AFS) / 8 fps (AFC) in 12- bit RAW and 10 (AFS) / 7 (AFC) fps in 14-bit RAW high-speed burst shooting. In addition to a total of 225 focus areas, The options for Face/Eye Recognition, Tracking AF, 1-area AF and Pinpoint AF are available for precise focusing. The 4K PHOTO enables 60 fps high-speed capture in approximately 8-megapixel equivalent resolution.
Achieve outstanding footage in any environment, especially in low light
As a camera that excels in shooting in low light, the LUMIX GH5S boasts -5EV luminance detection performance with Low Light AF thanks to the higher sensitivity and optimized tuning of the sensor. Live Boost is another practical feature that makes it possible to check the composition even in total darkness, by boosting the sensitivity just for Live View. The magnification ratio in MF assist is increased from conventional 10x to 20x, which is convenient especially for astronomical photography. An AF Point Scope function, first introduced in the Lumix G9 and Night mode are also integrated.
In order to make the GH5S tough enough to withstand even heavy field use, it is composed of a magnesium alloy full die-cast front, rear and top frame that is not only splashproof7 and dustproof but also freezeproof down to -10 degrees Celsius. The GH5S is equipped with a double SD Memory Card slot, compatible with the high-speed, high-capacity UHS-II and Video Speed Class 90. Users can flexibly choose the recording method from Relay Recording, Backup Recording or Allocation Recording. The HDMI Type A terminal is provided, along with the USB-C Gen1 interface.
Exceptional image capture without concern
The GH5S has a large LVF (Live View Finder) with a stunningly high magnification ratio of approximately 1.52x/0.76x (35mm camera equivalent) providing smooth display at 120 fps. A high-precision, high-speed OLED (Organic Light-Emitting Diode) display features 3,680K-dot resolution and 100% field of view. In addition to dual dials, an omni-directional joystick enables more intuitive and flexible operation.
The GH5S includes Bluetooth and Wi-Fi® connectivity to offer a more flexible shooting experience and instant image sharing with easy operation. Compatibility with Bluetooth 4.2 (called BLE: Bluetooth Low Energy) enables constant connection with a smartphone/tablet with minimum power consumption. For Wi-Fi, 5 GHz (IEEE802.11ac)8 can be selected in addition to the conventional 2.4 GHz (IEEE 802.11b/g/n) for an even more secure and stable connection.
For extended battery life and a more stable hold, the new Battery Grip DMW-BGGH5 (sold separately) is available. The XLR Microphone Adaptor DMW-XLR1 (sold separately) allows high-res sound recording with an external XLR microphone.9
The Panasonic LUMIX GH5s will be available from end of February 2 and will retail for $2499 (body only).
*1 RAW files are in 14-bit even when 12-bit is selected.
*2 4K 60p/50p(for a Digital Single Lens Mirrorless Camera), 4:2:2 10-bit (for a digital interchangeable lens camera) as of 4 January, 2017
*3 As of January 8, 2018 as a Digital Single Lens Mirrorless camera that complies with 4K (4096×2160) resolution defined by Digital Cinema Initiatives(DCI). According to a Panasonic study.
*4 4:2:0 8-bit in C4K 60p and 4K 60p recording on an SD Memory Card.
*5 Contrast AF with DFD Technology works only with Panasonic Micro Four Thirds lenses.
*6 In AFS, at wide-end with H-ES12060 (CIPA) when LVF display speed is set to 120fps.
*7 Splash Proof is a term used to describe an extra level of protection this camera offers against exposure to a minimal amount of moisture, water or dust. Splash Proof does not guarantee that damage will not occur if this camera is subjected to direct contact with water.
*8 5GHz Wi-Fi is not available in some countries.
*9 In MOV only

Sorry, I was going for EVA Minus 1... it sucks when I have to explain a joke... 

Actually no, there are not plenty of other cameras to choose from! :-/ 

If a person wants a compact cinema camera with compact lenses, then they're sh*t out of luck! 

As what options are there? There is the famous BMPCC/BMMCC, but they're awkward/inappropriate if you want XLR inputs or any of a bunch of other common standards such as TC or built in NDs. 
There is the Digital Bolex, which is absolutely perfect for some people.  But for others the base ISO of 200 due to the CCD sensor makes it impossible to use for their purposes (not to mention the lack of many other features such as TC or NDs). 

There is the Panasonic AF100, which is the EVA1 should have been the update for! But the AF100 is now woefully out of date, so that rules it out. 
Then you have a few more oddball choices (such as Sony F23, but too outdated for some, and it is a really really big camera! Just to use small lenses on it. Defeats the purpose), but none are appropriate. 
Imagine how good an EVA1 with the small Panasonic Leica 12-60mm would be, that is beautifully lightweight!  And you could pop a 20mm f1.7 pancake in your pocket to pull out when the sun sets. 

One can hope, perhaps Panasonic will bring out a camera bigger than the GH5 (in price and size) but smaller than the EVA1 (in price and size) but with a MFT cut of its 5.7K sensor. 
 

NOTE: This is not a counterpoint to anything you wrote, just using it as a springboard to share my thoughts on the EVA1, as an owner.
The image is definitely what's most important to me -- color, skin, DR, highlight roll-off... it's all handled beautifully. I think the perceived shortcomings are being blown out of proportion because none of them have gotten in my way. Bad LCD? I wouldn't shoot 4k with a 3.5" monitor in the first place. The Panasonic LCD stays at home while my SmallHD 502 or 702 take the LCD feed over SDI. EF mount a bad choice? Not for me as every lens set i own (contax-zeiss, leica, sigma) has an EF mount. Bad build quality? Plastic shell, yes. But it has a magnesium alloy frame. I've owned the EVA1 since November 8 (my two month-iversary!) and have shot with it nearly every day. Haven't suffered any build quality issues. No DPAF? I don't happen to shoot the sort of content that I'd risk relying on autofocus for. No EVF? I think built-in EVFs are a pain to use because they're placed at the rear. My Gratical Eye is much more flexible. Noise at higher ISOs? Compare the EVA1's very fine, tight noise character to the splotchy, clumpy noise you see with the Sonys and Canons. Also, the internal noise reduction works well, but even better, the EVA1's noise pattern lifts out beautifully with no perceivable loss of detail.
Where I work, a lot of FS5, FS7, & A7SII material comes across my desk to be graded and it's always a bit of a fight for one reason or another. Comparatively, the EVA1 is a joy to grade as you guessed, much like the Varicam. This camera is so easy to work with, and I was so happy after the first month, that I bought the extended 3 year warranty. I'll be shooting with my "baby varicam" for a good while.
Truly the only complaint I've got for the EVA1 is that it doesn't offer RAW output or 400mbps encoding yet. Soon, I know. But not soon enough. 
And one little thing that I really love is that it shoots 2K, not just HD. It is a cinema camera afterall, but most in this class only do 1920x1080. And as I often have my films exhibited in theaters from a DCP, it'll be nice not to have to do a little blow-up to make up for those missing 128 pixels on the side. It's a small thing, but appreciated.