I haven’t got an M camera yet but am considering either this or a grey import M5 on a great deal.
You should perhaps wait for a model with true 4K output if you need 4K video. Preferably one that also offers to use the already inbuilt DPAF for 4K video focus. If you can get an M5/M6/M100 at a price that is within your means then they'll serve you very nicely. I tend to avoid Grey Imports here in Australia though because Canon don't always support the warranty here so the item has to be returned to the seller... who in turn send it back overseas. Typically a simple issue (which is rare but can occur) may take between 6 weeks and 6 months to resolve. It depends on how good the importer and their policy is.
What would you advise, and why? All advice appreciated.
The M5 and M6 and even the M100 are all excellent cameras with DPAF. The M5 has a built-in EVF. The M6 is slimmer without one. And the M100 skips a hotshoe but drops the price accordingly. People are selecting their choice of camera based on the limiting features of each model. The M50 is slyly being positioned to appeal to Vloggers... although without the DPAF engaging in 4K shooting mode, it's clearly being restricted. That Canon state it is an "entry level camera" shows that there is a better model yet to come that is currently in development. If you need 4K video with all the whistles and bells, you'll need to hold out until Canon produce the right model.
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Remember when Canon was only offering 320x240 video resolution when others were offering 420p? How about when the others moved to 640? It took Canon several YEARS to offer 640x480 video. And that was crippled with something like 29 second clips because of two reasons: Longer than 30 second clips resulted in Video Camera tariffs in some countries... and because Canon would prefer that you bought a video camera . Years later we saw 720p and years after that we were offered 1080p and in each and every instance this was crippled by framerate or clip length until more recently. Now Canon have had absolutely no choice but to squeeze out 4K.... but they've not only done so very reluctantly, but they have crippled this feature by automatically deactivating the DPAF sensor for focus when 4K is selected... and then there's the crop - which appears to be applied two-fold. Videographers are disgusted by these limitations. And you can see how Kai feels about it towards the end of this video (see original post at the start of this thread).
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The best build of camera with DPAF in mirrorless is the M5 followed by the M6 and then the M100. If you want 4K then you either buy the M50 and try to ignore the reduced resolution due to the cropping... or you can wait for another model to be released which will have true 4K. Those are literally your only choices at the moment.