A little sharpening after a light pass thru Mercalli Pro V2 is in my workflow, fast and a lifesaver. GH1/2 image is so sharp one can afford a little crop and zoom.
@stonebat That's the order I usually do things in. If my grading makes it look like I want some noise reduction then I add a denoise to the top of the effect panel.
@stonebat Also if you are grading in PremierePro make sure you go into your sequence settings and turn on "Maximum Bit Depth" to use 32 bits per channel. If you want to recover ultra-whites (i.e. >100IRE), then I'd recommend you do that before noise reduction as the denoising plugin might clip to 100IRE.
(I don't think the GH2 will record >100IRE, but the older DV25 cams used to record up to 110IRE and you could recover another 10% of highlights in post by pulling the highlights down - check your scopes!).
"power" photoshop users usually convert their images to lab color space and then only do sharpening to the L or luma channel. This is so the sharpening doesn't affect the color channel which causes image artifacts like haloing and color fringing. Here's a way to do the same for video using after effects http://provideocoalition.com/index.php/cmg_keyframes/story/luma_processing/ I don't know why someone hasn't released a simple plugin that applies sharpening to the luma channel without going through all the steps yet.
@bimdas. "I don't know why someone hasn't released a simple plugin that applies sharpening to the luma channel without going through all the steps yet"
Sony Vegas Pro has Chroma Blur and sharpen tools as standard plugins.
Chroma blur is quite a standard effect, useful for smoothing out green/blue screen video for keying. Not really useful for sharpening. Does Vegas have a luma sharpening effect?