Let me just get this straight, so it has the same sensor size as the 5D Mkiii and only costs $500 more at there releases and it shoots 4K raw...Close, with one very important correction: Super 35mm is a film format that is approximately APS-C size.
I was thinking that but then I saw the part about it sharing stuff with the new Leica
The size of the sensor as listed on the BH photo page is 21.12 x 11.88mm which is 16x9.
Equivalent crop is 2.0 vertically, 1.7 horizontally from full frame. So its actually smaller than APS-C
That's the active area in quad-HD mode. The sensor is 22.5x16.9 mm (vs 22.3x14.9 for the 18mpix APS-C sensor, for example).
If it can record 4096x2160, it will be 1.6x crop. If it can only do 3840x2160, then it is 1.7x crop (that is, using my rule that only the most restrictive dimension counts, in this case the horizontal one).
The biggest problem for Canon is not resolution, but codec: they've crippled their cameras into irrelevance
$1K: pocket BMC: 10-bit 4:2:2 Prores, compressed 12-bit RAW
$3K: original BMC: 10-bit 4:2:2 Prores, uncompressed 12-bit RAW
$4K: BMC-4K: 10-bit 4:2:2 Prores, compressed 12-bit RAW
$3K: 5D3: 8-bit 4:2:0 H.264
in a few weeks the 5D3 will do 8bit 4:2:2 lossless over HDMI and add say $700 for Ninja2 and you get 8bit 4:2:2: proRes (would be so awesome if they gave 10bits)
well, yes, but you said it yourself: 4:2:2 is nice, but that's still 8-bit