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MP4 vs AVCHD -- 1080 vs 720...

Hello everyone, I just finished my short script and I have sent it out to my friends for feedback. Now I'm thinking about the actual filming stage. The short film will be a "reality home video" style with 3 friends dealing with a difficul situation. It will be shot about 25% outside and the rest in my home.

I will be using a Sony HX100V camera and wanted to know what setting I should record in.

Until a half hour ago I thought the camera only recorded in 60fps and then I saw this YouTube video showing how to switch it to 30fps. Only thing is that it goes from AVCHD to MP4. Now my question is, which setup should I record in?

The film will be posted online and I will make some dvd's for everyone involved. I'm not planning on submitting it to film festivals unless it comes out perfect and I'm happy with the results. If I intend to submit it to festivals, what settings should I use?

As you guys can tell, I'm a total noob when it comes to filmmaking, so any help is highly appreciated.

Joey

Here' s the youtube vid for the settings on the camera:

http://www.youtube.com/watch?v=M_ZK5Lbchb0&feature=plcp&context=C336992aUDOEgsToPDskL6r9xnRu7JS0qNaAFrL0b9
 
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