Saw Jonas Rask posting about FujiMod.com and their project to create a softmod software for the X70. It boots from the SD card so you don't have to permanently modify the camera's firmware, which is awesome.
It gains you a whole slew of features...anamorphic desqueeze, XPan, higher JPEG quality, snap focus, new film sims up to Reala Ace, F-Log video, and a bunch more.
Looks like they will try to bring it to more cameras as time goes on, but a very cool project.
Would be interesting if it could access the RAW imaging pipeline or add some sort of LUT support, ideally using F-Log as base. It could then use the LUTs from my film simulation app in-camera.