Highlight Tone Priority effective
 

I've recently been shooting in bright sunlight and am quite impressed with how effectively HTP works on the MK iii. I've read some comments on other forums about it not being worth the extra noise that's created.

A little extra noise is easily fixed in post with Neat Video or other noise reduction plugin, whereas blown highlights can be pretty ugly are usually irredeemable. Used selectively, I think it's a great feature.