Exfat does seem to be the new standard. From what I have read it is the only format that allows uhs-1 microsd cards to properly record video in HD and UHD.
For example I tried a 16gb class 4 card in my PFX formatted in fat32 and exfat . UHD recording was very corrupted on both formats. On my SanDisk ultra uhs-1 16GB, everything was smooth.
When you format any card in the PFX, it will format as exfat by default.
The PFX chipset is rated to handle the UHS class Micro SD cards and you do see a notable speed difference when transferring files.
Compare this to the galaxy note 3 which formats anything you throw at it into exfat and transfer speeds are horrible
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