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If you watched the keynote, you may have noted that the stabilisation process is two-step. The first one is a lengthy pre-processing of all the frames which had been done prior to the live demo. The second step was the only one that was demo'ed on stage, when the movie was rendered using that pre-prepared motion info. It will be interesting to see what FPS performance is achieved in real life, on a real Mac, for that first phase.
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