Standard gamma 5 is a REC-709 compliant gamma curve and is the default gamma. The Hypergammas are the same curves as used on the PMW-500 and PDW-700. These are very useful as they offer improved dynamic range (460%) compared to the standard gammas but more importantly they do not use conventional knee compression.
PMW-200 Hypergamma 4 (need to correct the caption on the picture!)
The Hypergammas gently roll off highlights in a much more natural looking way than the harsh electronic looking compression that a traditional knee circuit introduces. Hypergammas 1 & 2 are broadcast safe, never recording above 100%. Hypergammas 3 & 4 have the same curves as 1 & 2 but allow the use of superwhite recording levels (109%) to give you a little more data to play with in post production.
PMW-200 Default settings.
As well as gamma the picture profiles allow you to choose from 6 different preset colour matrices and allow you to modify the colour saturation and colour vectors. This makes it easy to match the PMW-200 to other cameras or to create a number of in-camera looks. Matrix 1 gives a warm look with a little extra red, 3 is a little less vibrant, 5 & 6 give deeper blues with 6 being a little less saturated than 5.