Panasonic G7

Looks like a mini GH4 and has cinelike profiles plus Flickr reduction for shutter speed in movie

I believe still no Auto ISO in manual. Apparently it has the same processor of the GH4 but not same sensor.

It retails at half the GH4 price

http://www.panasonic.com/uk/consumer/cameras-camcorders/lumix-g-compact-system-cameras/dmc-g7.specs.html

No AutoISO - shame.

Can't wait to see the image improvements over the GH4 - as there normally is...

I wonder if the 4K is full sensor width? That would be worth having...

Quoting a quick spec overview form Personal-View.com

Panasonic G7, 4K castrate monster on budget

New Panasonic G7 represents company attempt to compensate some of the wrong decisions made in the last two years. Lack of affordable, video oriented bodies with good EVF played significant role in company share reduction on mirrorless market.

What was made right?

They did not saved on EVF.

Main processor is the same as in GH4.
Bitrate in 4K modes is the same 100Mbit as on GH4.
For long time Panasonic stopped at around 16Mp mark for their sensors and it is right idea.
Camera has two wheels and assignable Fn buttons making adjustments easy and fast.
$699 price for body and $799 for kit also is completely right, being very close to G6 one.
Weight is also much smaller than top bodies.

Where is the catch?

Most savings come from cheaper LCD screen and body quality.
Simpler construction of the body, made mostly from plastic.
Body is just smaller, not good for large hands.
No weather sealing.
No headphone input (this is not good).
SD Card is located under battery door (very unhandy).
Camera also lack Cine 4096 width resolution modes (only 2160p).
Low bitrate only for 1080p modes (up to 28Mbit, artificial software restriction).
30 minutes limit and regional restrictions (25fps modes for PAL and 30fps for NTSC).

How it looks overall? It looks like good looking but poor castrate born by the drug addicted mother who produces few offsprings a year and does not love her childrens. Sadly. But potential is quite good, and camera can work as second or third camera (if you do not need any audio monitoring).

Any alternatives?

If you really want good EVF as in G7 your only alternatives are Samsung NX1 and GH4. Both significantly more expensive. Samsung NX500 is cheap, 4K works in crop mode, records in very compact H.265, sadly it lacks any EVF option. As most portable good quality 4K camera it is amazing option.

Check out Panasonic G7 camera topic for specs, opinions, photo and video samples.

Taking away the high modes at 1080 doesn't seem the end of the world. Interestingly you can still connect an external recorder or am i wrong? Wonder if there will be a GX8?

Yeah - no mention of uncompressed HDMI output...

I am guessing that the housing won't be less expensive than the gh4 due to form factor. So the saving is only on the. Camera body

It's essentially a LX100 with interchangeable lens with newer processor and touch screen, longer recording time. LX100 and G7 is the same sensor, so the crop factor may be the same. No one know if the G7 can have HDMI out for external recording yet

I don't think the G7 has a multi aspect sensor so the crop will be the same of GH4

And i think the hdmi is playback only not pass through looking at the wording

Those who're considering G7, good news for you:

http://www.43rumors.com/first-4k-g7-video-test-by-nick-driftwood/

"The video recording modes also offer the professional gammas Cinelike D and Cinelike V together with an S curve Highlight / Shadow borrowed from the GH4. Not only that, you get the rather cool gizmo feature of Panoramic recording in portrait or landscape, decent Time lapse animation modes, plus, a clean 4:2:2 8-bit HDMI throughput to a TV or hard disk recording/monitor device."

B&H also mention that the G7 has clean HDMI out (search for "Clean HDMI" down at the question section):

http://www.bhphotovideo.com/explora/photography/news/unveiled-4k-capable-panasonic-lumix-dmc-g7-mirrorless-micro-four-thirds-camera

If you can afford the $6000 Shogun, then the G7 is a good option instead of GH4.

I don't believe the op understood the question. Panasonic specs are quite clear when the output is for monitor is from sensor and in this case the specs are very different from the GH4 where it explicitly mentions monitor thorough

I would be surprised they limited the recording modes and then they offer external recording

Traditionally that is a prerogative of the GHx the G and Gx never had it would be a first