Help choosing a camera for doc and short films...

[fuzzynormal]

How's the E-M5's peaking in video mode?

Do you mean zebras or focus peaking?  There's an exposure clipping function, but is disabled once you're rolling footage.  I really don't bother with it.

How does the sensor/codec handle highlights?

Decent.  I'd like to see it roll off a little more gently, but it's pretty good.  I've been shooting as flat as the natural color profile will allow and then notching the shadow/highlight curve one step.  Seems to help.  Plus, using an older less contrasty lens is offering me images that I quite like.

How much can you push the internal codec in post?

The same as my Canon 5D, more or less.  8-bit is what it is, although Oly does offer a 77Mbps AVCHD intraframe for 24, 25, 30fps.  But, you know, if you expose properly in camera even their 50Mbps looks fine.  (which I use for 60p and slow mo)  Since we're talking documentary work, I think the goal is to try and capture the right moments on location, and not necessarily to try to preserve your highlights so they can be saved in post.  I feel that sort of thing is more for the arena of narrative fiction filming.

If someone is extremely demanding on retaining lots of IQ during an aggressive post-grading process, then they'd want to consider a camera with RAW for sure. 

How are the higher ISOs?

I've pushed it to 3200 for sustained stretches of shooting, but I prefer to stay below 1600.  Any more than 3200 is too much noise, but I've taken a few shots higher because I had to.

Finally, I'll say this:  Right out of the box this camera is set-up in such a way that video looks kind of lame.  It takes some tweaking to adjust it to something more suitable for production.  Also, another gripe I have is that I can't adjust exposure in camera during rolling.  Exposure compensation has to come from a manual lens' iris ring.  Not a big deal, but an annoying usability oversight.

[IronFilm]

(I would like to invest in glass for the EF lens mount.)

 

Just don't!

a) why reward a company which has had such a terrible attitude to their consumers for filmmaking? Canon more or less accidentally stumbled into this niche, then ignored the HDSLR enthusiasts

b) invest in Nikon F Mount lenses instead which will leave you with greater flexibility of choices and cheaper adapters

 

As for cameras, what kind of documentary films and what kind of short films? And which of the two are more important to you? (As they can have conflicting needs)

Also, what is your background coming into this? For instance a BMPCC or Samsung NX1 are both absolutely FANTASTIC cameras, arguably each the best in class for their niche. Yet at the same time.... they're not really for everybody, especially if they're new to this. While a Panasonic GH4 / G7 or Sony RX10mk2 or Sony X70 / AX100 could be far better more general purpose choices. 

[TheRenaissanceMan]

 

Do you mean zebras or focus peaking?  There's an exposure clipping function, but is disabled once you're rolling footage.  I really don't bother with it.

I meant focus peaking. Do you find it effective enough to rely on? And aww man, no zebras? Lame.

Thanks so much for the information. The new E-M10 II is looking more and more interesting by the minute...

[fuzzynormal]

I meant focus peaking. Do you find it effective enough to rely on?

Yes, once I figured out the best way to utilize it.  It's useful in some regards.  

Still, I can pull focus manually with my eye on the EFV and with focus peaking off, which is how I prefer to shoot.