If you were as caught up in Canon HDSLR world as I have been, you might have missed the hacks going on with the Panasonic GH1 HDSLR . Originally introduced with very low bit rate video quality, I didn't think it had a chance to compete with the Canon 5D Mark II. Others believed in the unit and created hacks on the firmware. Apparently the hardware is capable of much more, with a recent hack that puts the video capture bitrate over the Canon 5D Mark II. I'm not going to get into details, but I'm betting Panasonic is staying quiet allowing 'others' to develop freely for them while they sit back and learn some new tricks. They are probably right on top of all these firmware hacks, testing it out, taking in a thing or two, and planning on releasing a killer HDSLR soon thanks to some clever DSLR video hackers. Check out the original article for more information.
With this recent firmware hack (there are a few caveats), you can grab a GH1 for less than a Canon 7D and capture Video bitrate higher than the Canon 5D Mark II. Check out the pricing on the Panasonic GH1 over at BHPHOTOVideo.com.
The above video and Reference to original article here: http://www.eoshd.com/content/250-50Mbit-1080p-MJPEG-on-the-Panasonic-GH1