
I've been very impressed with the Sanity 5 patch, on my GF2. I've tried them all and the color, contrast and tonality of this patch keeps me coming back to it. For lowlight, the VY Canis Majoris 'Night' is giving me great low noise and shadow detail. I'm looking forward to trying out LPowell's Flowmotion v2.0, to be released this week.
@Ebacherville using my own settings, affect only on 108050i/60i FSH modes, tested only in 1080i50 mode.

As far as I know, the GF2 allows for real 720P at 30fps under Motion-JPEG, 1080p at 30fps encapsulated as 60i (so is relatively easy to revert 1080i60 MTS footage to 1080p30 @ 29,97) and AVC 720p60.. except that it duplicates frames to achieve the 60p.
I rarely shoot on 720p60 AVC for this very same reason, and use High Bitrate 720p30 M-JPEG instead. At least those are the specifications of the GF2 I know of. Perhaps there is really more to it? Panasonic's site says:
[Full HD] 1920×1080, 60i (sensor output is 30p) (FSH:17Mbps, FH:13Mbps). / [HD] 1280 x 720, 60p (sensor output is 30p)(SH:17Mbps, H:13Mbps)
I'm still sitting here waiting for manual video mode :)
@zinin feel free to try the modified settings I have been using on my GF2 for a long time now. Lately, I exclusively shoot in 720p30 M-JPEG anyway (with these same settings), due to the GF2 sensor having less than real full-HD resolution.
High AVC bitrate for 1080, Very High bitrate for 720p30 Motion-JPEG with custom 4x3 480p30 (960x720). You'll need a fast card

VK never fails. It's a question of time.
@zinin Try GOP3ZILLA (standard) http://personal-view.com/talks/discussion/2960/golgop3-13-gop3zilla-natural-for-mega-size-i-frame-lovers-/p1 and EOSHD GF2 setting on the bottom of this page: Go to Voldemort hideout...
These two are the cleanest from everything I tested (pixel-peeping the screengrabs to see where codec falls apart) in AVCHD 1080. I am yet to try @subco 's MJPEG settings (ложил я на ГФ с большим прибором: http://personal-view.com/talks/discussion/comment/64258#Comment_64258 ), but he is right, the real resolution is way below even 720. My workflow for now is AVCHD@1080 and final export at 720.
I suggest you to look into development plan.
Right now I don't have time, and spend all available on GX1 and G3,
@diafragma1939 relative to your questions on the Flow Motion v2.0 thread. I only use the GF2 in 1080. I've been shooting in the two other formats for testing only. I don't own a GH2, so I am not disappointed with any aspect of the GF2's image quality. It serves my needs very well. If the GF2 had full manual controls, I'd be very, very happy, indeed.
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