Sorry to be so slow in getting back to post an update. (A big work project/deadline dropped in my lap.) Here's my report....
Over the last month, I've found the GH4 to be a HUGE improvement over my much-loved GH2: Much better noise performance at higher ISOs. Crazy faster autofocus with good lenses. And faster shutter release, more frames per second and great RAW buffer performance.
There's been more of a learning curve than I expected... The ergonomics are different, with a lot more fingertip control. Definitely better, but took a few weeks to feel on top of everything. ONLY LAST WEEK I discovered - by accident -- that in Auto-Focus Face Detection Mode, I can trigger the DIRECT FOCUS AREA BOX with a touch of the control dial. Very helpful for how I've been shooting volleyball! (Maybe everyone knows this... was it already a feature on the GH3?)
I shoot game action mostly using the Focus Area Box... face detection just doesn't work. But during a coach conversation or a team huddle, I kept hitting Fn3 to switch to FACE DETECT and then back again. Now I can just stay in FACE DETECT. When there's no face, it defaults to MULTI-ZONE AUTO FOCUS. BUT as soon as I have an action moment to frame up, my thumb can activate the DIRECT FOCUS BOX, which my thumb can also reposition pretty quickly. (And it stays in that BOX MODE until you hit menu to release it.)
My other big volleyball focus revelation was -- for certain pictures -- put the focus box near the bottom of the frame! On legs, not faces. Awesome for shooting through the net... if the legs below are sharp, the face behind the net is too. The camera also seems to find focus a hair more quickly seeing legs against the bland gym floor versus upper bodies and heads with other players, spectators or bleachers in the background.
I should also report, that as much as I like my 12-35mm F2.8, even though I can get an okay shutter speed at 6400 ISO, I liked the action pictures I was getting with the 25mm F1.4 on the GH4 so much more that I stopped using the zoom. The F1.4 lets me shoot at both lower ISO and faster shutter speeds. And that lens just looks great.
SOOOOOOOO.... I bit the bullet and ordered the uber-pricey 42.5mm F1.2. After I did it, I had some serious regrets... big mistake. At least, until the lens arrived and I started shooting. It's amazing. Love this lens. Has that same yummy Leica skin and eyes thing that I like about portraits w/ the 25mm, only maybe more so with shallower depth of field from the longer focal length. And very good for volleyball... so I'm shooting lots of frames that don't need major cropping.
Biggest GH4 downside so far is that the quick shutter and large buffer have me shooting A LOT MORE FRAMES than I did with the GH2. Several hundred frames per game, hoping for a handful of keepers. So my time in LightRoom flagging deletes has more than doubled. But as I get to know the camera and lenses better, my confidence about "getting the moment" is improving, so I think I will begin shooting less. (Meaning fewer long "I hope I get something" multiple frame bursts.)
One other expense to report: had to update LR4 to LR5 to get GH4 raw support -- even though my CS6 camera raw had the GH4 update. Adobe, arrgggh...
Thanks to all here for the good advice! Very happy about these upgrades. (Just not the American Express bill.)