You can't make it a default, but you can add digital effects to the LCD menu so you can quickly select it. You can even give it the #1 position so it's first up when you touch pmenu on the screen.
After a few experiments it seems if you can create very even lighting and lock down on a tripod or steadicam- cinema effect can create some nice looking footage. But it degrades pretty quickly with lighting changes. It would take some effort to maintain a look throughout a short film, but it could be done. It's not as robust as the frame mode of my GL-2, but looks way better on a 1080 display or tv! Very bright lighting also seems to wash out the effect looking much more video-like.
Anyone else agree or disagree?