I just bought one. It's great
I keep it set to 25p. In the camera's menus, 25p is called 'Digital Cinema' mode.
But the camera can also do 50p, which is incredible, if you have a device that can play 50p video. Some computer monitors can do it.
It also does 25i, like most other camcorders, but I personally don't like interlaced video, which was really designed for use on a cathode ray tube (CRT) monitor. Progressive 'P' is better for the computer era.
The US version of the camera does 60p, 30p and 30i. I think there should have only been one model that does all framerates.
Anyway, to sum up, this is the best consumer camera on the market. Its 3 image sensors (one for each colour) give it the best picture quality of any consumer camera. Professional cameras do this, but the Panasonic 900 is the only consumer camera to do it.
Other cameras (eg Sony) have gimmicky features like GPS, but the Sony only has one image sensor, thus lesser picture quality.
The VLC media player (open-source, free download) can play back AVCHD movies on any computer platform, so you don't need to pay for extra software.. Alternatively, you can import your AVCHD movies into Final Cut Pro, which converts to an intermediate format for editing, then you export it to any format.
Anyone thinking about getting this camera should search the model in Google, then click on Videos, and take a look at some of the videos people have made with it. Videos on Vimeo look better, but there are lots on YouTube (but YouTube compresses them a lot, losing a bit of quality).