I went to the unavailing of the F3 here in LA at the USC campus and saw some short films the students shot and it was being projected with a 4k projector and I must say for the most part it looked very good. I think the biggest argument is going to be on the technical side as this ships with a 4:2:0 codec, and we don't know the cost of the 4:2:2 or the duel link options and what the new SR recorder/media costs will be.
IMO the F3 is NOT a Red. The F3 is intended for the digital film maker on a shoestring budget as it ships, or as a 2nd/3rd camera with all the options for a feature film. The biggest difference is it doesn't shoot RAW and I actually like this because it means the DP is once again the person in charge of the look of the image.
The F3 will be the hottest selling camera of 2011.
I have one more question! I want to find out the quality of PMW-F3 since you said you actually saw the footage from PMW-F3. Some people say that it is just PMW-EX3 with 35mm adaptor but how do you think about this? (I personally own PMW-EX3 right now :))
No, the F3 has a new Super 35mm single CMOS sensor and this is about 4 times the size of the (3) 1/2 sensors in the EX cameras. The Red also uses a single CMOS sensor. More information and opinions will surface in the next few months on the quality and characteristics of the F3.
I believe we will see a much better design for the next F camera next year or Sony may roll out options like a much needed electronic viewfinder for starters.
If you shoot with the EX3 then the F3 is the perfect match for your workflow.
The PMW F3 is quoted as having 60% less picture noise than the PMW EX1 which is substantial and is coming close to the F23/F35 cinema cameras in clarity. CMOS sensors seem to be improving on an ongoing basis.
I was at the NYC Sony event on the PMW F3. I agree that it's an impressive camera. Especially when used with a nano-flash. However even when it recorded 35mbps, 4:2:0 to SxS cards, it looked beautiful.
It has great latitude for a video camera.