Originally posted by Deiberson Not to steal this from the OP, but if I'm running into the same problem and I turn them off, how will this effect my IQ? Or are the default settings for the camera "off" from the factory?
Lens distortion is mainly visible with wide angle lenses and straight lines near the image borders, typically indoors. It's rarely a problem outdoors.
Chromatic aberration is mainly visible when shooting at wide open aperture in high-contrast situations. Coloured fringes will show along hard edges.
The corrections will only improve your IQ in the above mentioned situations. They are off by default because they slow the camera down.
Sincerely,
--Anders.