The essence of what makes the very capable Odyssey7Q+ desirable to me is multiple inputs and outputs to multiple codecs, proper ingesting and recording of a raw feed, and the ability to capture super slow motion off the FS700 at 120 and 240fps in 2K at varying frame rates such as 23.98. As I no longer have the Odyssey on my hands I remain confused as to whether it will allow 120&240 fps @ 29.97 or 59.94. With the purchase of the raw package, it will record the raw feed in raw video in 4K (into a hell of a lot of little files but that's a separate issue which can be handled on ingest), and a bunch of other resolutions (UHD, HD, etc) into ProRes. It will also allow super slow motion recorded to the external recorder in full 10 bit color downsampled from the raw feed with more latitude for correction in post. The total cost of that package is just under 3K (after one adds $900+ for the raw license package) and that's *before* one adds necessary accessories like batteries and cases, etc.
The Atomos Shogun on the other hand will record in 4:2:2 the signal from the HDMI or DCI-Raw from the SDI port into 10 bit color space in HD, 2K & UHD (2160p). It will also record slow speed 120 and 240fps at 1080p (but only at 60p. I really struggled with grokking that. It's 120, or 240 frames per second, recorded at 60 frames per second which to me means one gets about half the effect of the slow motion one might expect if you could record @ 24p. Now it is possible to get 480fps onto the Shogun at 59.94 which seems to me gets one to the 240fps@24p slowmo effect but you begin to tele in and lose image quality. And 960? As far as I can tell, just don't bother as it looks like crap). Frame rates for 4K (UHD actually) is limited to 30p.
So if you don't care about slow speed in 2K and/or you just don't want to deal with Goliath sized raw video then the Atomos Shogun is just what the Dr. ordered. And let's face it, sexy as that is there's a pretty good chance that well over 99% of your footage does not include super slow speed stuff in 2K ...unless it does. The Shogun comes with a protective case and batteries for portability, all for under $2K. In addition, the Shogun has a *very* thoughtfully designed interface which really differentiates itself from the Odyssey's (frankly ...clunky) menus. If you associate terms like geeks, nerds and other such descriptors of solid technically skilled people, with visuals like thick glasses, pocket protectors, half sleeve shirts and a tie then you are right in the mindset of the Odyssey menu system. And that's just an outdated vision. Today's solid technical dude is an artist. He has to be in order to remain ahead. Say hello to the Atomos Shogun.
A few more details: the Shogun will not only allow LUTs viewed on screen while recording is in progress but will also record the LUT conversion into the data. Dial in a look you want and you might save yourself some time in post. The Odyssey has this feature promised too but as of yet it's not available. The Shogun also comes with a bunch of other thoughtfully design and handy options notable among them is interval shooting as explained by Atomos CEO in one of the many helpful videos on Atomos's Vimeo channel.
As of yesterday, the Shogun was $1,995. With this link however, the Shogun can be had new for just $1,495 which is 50% the price of the full Odyssey package.
As an update I did get my hands on the new Shogun Flame and it is able to record the DCI raw signal off the SDI port at 120fps. The upcoming Shogun Inferno Atomos says will do that at 240fps in June-ish.
Good enough for me for now.