I agree with Syder.
This looks like a MASSIVE P.I.T.A. just to get a few minutes of footage at enormous file sizes. YES it looks great. And YES it will look greater if your film makes it to blow up on a big theater screen. However, with people compiling 40-50GB of memory for only 8min (many only achieve 10 or so seconds in the rez they want) of footage all the while converting, color grading, uprezzing, break dancing and dosey doeing to do it, I'll pass or wait until ML works out the kinks. I own a 5D Mark II and have seen people going through HELL to get this thing to work right. I've seen the MkII shoot RAW at 1880X860. And while it's beautiful to look at, it's eating up memory, and there is no 1920X1080 (1:85) resolution which is what I want. It's good to know it's possible, but it's not worth the hassle yet.
Again a few things.
This stuff isn't even released as Alpha for the public...still under heavy first stages of development.
When it is more ready for primetime, I'm sure the output and tools for workflow will improve.
Also, the prime camera for using this in a regular fashion, for 1080p video...is the 5D3.
The older cameras will get some form of RAW, but it may or may not be useful for anything but special short footage shots, but looks like on the 5D3 you will be able to use this for real shooting (not long documentary style, but shoots where you shoot only a couple of mins at a time). I think as of now, you can get about 15 min on a 64GB card....nearly half an hour on the 128GB cards.
I figure with things I shoot..I could have one 64GB in the camera and the other unloading data in the computer...etc.
But again...this is in EARLY
development stages....with a lot more work to be done and improvements along the way. It speaks loads that the ML folks have made this much progress this quickly.
Once they get the process in camera to a final stage, I expect them to then turn their attention to the external processes to get that output into a form quicker that will then fit into more normal workflows.
I forsee the end product to being something maybe where you take your Canon RAW output, run it through one app to put it into some type of commonly used RAW form, similar to what you get out of BM or Red cameras...and you use it then as you would those forms of footage.