Quick question before I take a plunge into getting a P3P.

How editable is the video off the camera? I mean, can you color grade it like you can with GoPro footage filmed in Protune ( apply LUT's and so forth )? I enjoy editing as much as flying so it would be a killer if all I could do is ad cut scenes to the vide and not fully edit it like I can with my P2 and Gopro..

You can do what you like with it with the right software.

Supported File Formats

    FAT32/exFAT
    Photo: JPEG, DNG
    Video: MP4, MOV (MPEG-4 AVC/H.264)

Easy to edit with Final Cut Pro, or other such software on Apple machines.