I encountered some issues after the latest firmware upgrade. Yes, I changed the focus. Images look blurry, but more importantly, it has this wave effect (very obvious if you look at the tower).

Also gimbal lost precision and when I shoot videos, the camera jumps without me touching anything. I tried to calibrate and adjust the sensitivity but nothing works.

Are these known issues for the new firmware, or I got a low quality camera and gimbal?

See this - same issues.  Hardware problem.

http://forum.dji.com/thread-75811-1-2.html

Could you please clarify what kind of temperature were you flying in? 

i checked the weather of ithaca on Wednesday. It was about 40F.

Can you Click on the Camera Options on the right hand side of the Display and select the Settings. Press Reset Camera and then see if it still happens. I had an issue with Focus today that was fixed by that.