The GH1 hacked camera created quite a buzz, but fell off when newer units were shipped with 'unhackable' firmware. Shortly after, the GH2 was released. Not long ago an announcement was made about hacking those 'unhackable' GH1 cameras. This puts the GH1 back in the spotlight as a very inexpensive quality interchangeable lens video and photography camera, cheaper than some point and shoots. There was an earlier article posted on here, and many opted to go for the GH1 route. If you haven't already, Vimeo member Michael Eggert walks you through a how-to mod your GH1 cameras in this two part video tutorial.
If you're still thinking about the discontinued GH1 cameras as a backup a few bodies still remain, your best bet is to check out the auctions. They're disappearing elsewhere.
While there are some Panasonic GH2 cameras available at current rip-off prices, the older GH1 is stepping back into the spotlight. Previous GH1 cameras with older firmware could be hacked into what was called the GH13 or GH1.3. The hacks provided more features than the standard GH1, which included higher video bitrates and additional framerates. After a certain firmware version, later sold GH1 cameras were considered 'unhackable' and this was discouraging. Well just a few days ago the hacking geniuses finally got things going again, and now state that all GH1 cameras can be 'hacked' along with some other models like the G1, GF1, and G2.
The great thing about the MFT cameras are that you can adapt pretty much any lens to it. The GH1 is even a great 'stills' camera for the budding photographer. So if you're looking for a Micro Four Thirds camera body that can capture high quality video and photos, you might want to re-consider the older discontinued GH1s while there are still some in stock at these discounted prices.
On a side note there really isn't good deals on the GF1. If you're a smaller rangefinder sized camera type of person, the GF2 which has a faster processor is also in stock with a $100 dollar instant savings found here:
Panasonic GF2 with 14-42mm