LOG has been around for quite sometime and in simple terms is the best format to use to get the most out of your image. It will produce a very flat image with dull colors and very little contrast and detail. This will allow you to color grade the footage in your editing platform of choice. Color grading or editing is an art and is a learned practice. LOG format is not recommended for beginners as it requires additional work to bring your footage to life. Once learned however, it's worth it.
Great, thanks. It seems to be somewhat like shooting RAW for stills - it holds the most info. I prefer to do my own color timing (or grading as I guess it's preferred in video), so it looks like this format is the winner.
I recorded a 45 minute tutorial but the sound cut out after 8 minutes lol. I'll get a new one up and going here in the next couple days. I just ordered the new 5K iMac fully maxed out. Can't wait =)
Also going to upgrade my old iMac but waiting to see what Apple are going to release this year before making the jump. Just wish they hurry up and let us know what's coming.