(Caveats: The (A)erial (P)hotography that I do is more to celebrate the flight than to frame the perfect scenery video. These opinions are mainly for multicopter vehicles. Fixed wing vehicles probably need different settings. There are several different preferences: what produces the best video quality of a picturesque scene, what produces the best video quality of stunt flight, and what the pilot likes to fly when shooting video.

Stunt flight needs a fixed camera mount and won't be considered further.)
One of my AP aircraft has an inexpensive stabilized 2D external gimbal and the rest have fixed camera mounts.
If you have a good "external" gimbal (not the gimbal signals coming from the FC) that uses it's own sensor, it doesn't matter what mode you fly in from the standpoint of picturesque scene quality, since it removes all jitter and flight motions. Unfortunately, using the "FC provided gimbal signals" does not remove the small INS13 jitter caused by the compass. So, use an external gimbal to get the best video in any flight mode. It might be possible to tune this INS13 jitter out by changing *PathFollowerSettings / EKFConfiguration at the expense of long flight stability and quick reaction, but that is a large topic that belongs in an advanced discussion.
To recap
if you don't use an external gimbal: INS13 causes a small amount of jitter, even in the non-GPS Attitude mode. Even if that didn't happen, all GPS flight modes add a small amount of correction for wind and GPS wanderings. Default LP settings tend to choose quick reaction and accurate GPS positioning over smoothness.
All of my LP quads have a GPS and use INS13. Some of them have a camera of some kind. Only one has an external gimbal. So, even though a lot of what I fly doesn't have any kind of gimbal and uses INS13, I don't find it a problem and I still enjoy my videos. In my opinion, it's if you want commercial quality video that you need to worry about INS13 / GPS jitter.
This INS13 jitter (which is only important if you use INS13, you don't use an external gimbal, and you need really high quality video) comes from using the full 3D compass as part of the attitude estimation. This means that using Basic "attitude estimation algorithm" will hold the camera very steady in Attitude mode, but INS13 (GPS Outdoor) will have a small amount of jitter in that very same same Attitude mode. I recall hearing that the next release has a solution that may allow GPS flight without this INS13 jitter. If you build your own software, this might already be available in "next". I don't know much more about it. This might correct the small jitter you get without a gimbal in INS13 Attitude mode, but the jitter from using any mode that
requires GPS (e.g. VelocityRoam) will always be there unless you change your *PathFollowerSettings / EKFConfiguration to forsake quick reaction and exact position hold in favor of smoothness (this seems to be what DJI Naza does).
I like VelocityRoam (which needs GPS and INS13)
because it stays where you put it, even in the wind; it's like PositionHold but you can drive it around. Of course, if you don't use an external gimbal, any flight mode that uses the GPS will have small constant corrective motions that will be noticeable. These can be removed if you detune the the *PathFollowerSettings / EKFConfiguration to forsake quick reaction (e.g. to gusty wind) and exact position hold in favor of smoothness (this seems to be what DJI Naza does). Once you do that, then maybe the new INSxx modes in next with Attitude mode with GPS Assist would probably give you the smoothest flight with good performance, but that is a
lot of marginally useful advanced tuning work if you don't need real commercial quality video. I certainly won't bother to do it.
There are some very interesting GPS flight modes that I haven't even tried. In particular, a quick look at the code seems to say that
with CourseLock mode you can hold a course by holding a fixed position on one stick or even just a lot of forward pitch trim (or using transmitter mixing to mix a knob into the pitch to allow the knob to set a constant forward speed) and while it is flying that course you can
use the yaw stick to follow a point of interest as you fly by. This mode effectively turns a 2D gimbal into a 3D gimbal but it should work fine without a gimbal.
On related notes:
Especially for higher def video, you can use post processing to remove jitter and excess motion.
Easytune and AutoTune both have settings to allow you to tune your PIDs for photographer (smoother flight) or FPV racer (quicker reaction).
If you are mainly a photography guy and this is just to get a picture taking platform in the air, you can buy a complete DJI Naza FC / GPS / BEC / LED for $69 shipped on eBay. I bought one (OK, more than one at that price

) to play with and see what the other side is doing. The authentic DJI Naza GPS (it may be better to get a clone if you intend to use it with LP) it comes with costs about $39 by itself.
http://www.ebay.com/itm/DJI-Naza-M-Lite-GPS-Compass-Multi-Rotor-Flight-Control-Stabilization-System-/191388772291Many people fly FPV, and their FPV camera is mounted at an angle. Be aware that 1609 has a feature that allows you to have your flight commands automatically translated into the FPV camera angle so that for instance a roll flip would be centered in the center of the FPV camera.