Beware: A couple things related to the 700. I have won 13 Emmys for photojournalism and shoot for Discovery Channel, Nat Geo and PBS. Im not beating my chest, just giving cridentials. Here is some advice from the professional side.
Overall, I really like the camera, however it has some flaws. I have found that there are some recording issues with this camera. Most who test and use this camera, I assume, are only recording for a short time. I have experienced that if you record for any significant amount of time that the recording will eventually stop. I have tried different brands of recommended cards and still have the same issue. Not so cool when you are recording a one time only event and the camera stops recording. JVC reps have no answer at this point. They gave me a new camera and the new one is doing the same thing.
I love the idea of multiple record formats, that is why I purchased it. The problem comes with this: If you use the native quicktime format and record in any of the 1080I selections you have to deal with the Long GOP format. If you are unaware, this is a terrible format to edit in. A simple dissolve can take upwards of 30 seconds to render. More difficult transitions, or multiple layers of video is an even longer render process.
As most FCP users know editing in PRO Res 422 is the hot set up for most day to day projects. Unfortuneately, the formats that JVC provides does not allow you edit in PRO Res unless you go through an endless render process. Sony has a brilliant transcoder for XD cam and it works awesome! JVC needs to acknowledge the problem and make a similar software product. Also, you cannot use the log and transfer feature of the FCP which is a huge deal to most editors.
If you are a news shooter, or just want to string some cuts only stuff together this is a great camera, but if you are using this for professional needs that involves true post production, you may want to look at something else or wait for the 2nd generation.
Anybody want to buy a like new JVC 700? Let me know. I’ll give you a good price.