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I know someone who has access to one but it's not something I can make a habit out of unfortunately.
For really cold stuff, a film camera is probably the better choice over a digital. I'm sure something like this would be fine – it's mostly plastic anyway. Very little mechanically and electronically to go wrong. The type of battery it uses is very temperature resistant too. How below zero are we talking? Most people taking photos in the arctic are using DSLRs but keep batteries in inside pockets until needed.Haven't used a GW690iii but they are no doubt great value compared to the Mamiya. The Fuji seems to go for around £400 on ebay but the Mamiyas are usually listed around £1600-2000.
Nice one. Where'd you borrow it from? I'm going hiking soon and snow holing and would love to get one. What are cameras like in belor 0 temperatures?
Also are you familiar with the Fuji medium formats like the GW690iii?