Actually MJPEG is a horrendous codec from a storage standpoint and is the sole reason why I consider my 5DIV's 4K to be completely unusable. You can't film a 4hr fashion show using MJPEG or pretty much anything of importance with it. If they put that codec in the R5 it will be the sole reason I do not get it.
The 8K codec needs to be H.264 or H.265 and stored in an MOV (preferred) or MP4 container. MJPEG is long dead. To edit something beyond your computer's capabilities simply get a faster computer or use proxy files. I am a 100% hybrid shooter (50% video and 50% photography) and even with all of the fantastic specs I still worry this will not be a sufficient B cam due to the following reasons:
Dual card recording - just because it has dual card slots does not mean it will write video to both slots. This is a critical requirement for me or the camera is a no go as a b cam for the work I do. I will even settle for dual card recording up to 4K and CFAST only for 8K.
XLR Audio Module - For run and gun scenarios where I need XLR audio, Canon has not said anything about offering an XLR module for this camera. I currently use a GH5 for those scenarios and it does both (dual card video recording and has an XLR module)
Recording Limit - No word yet on if this is still a problem. In 2020 the EOS R still has a recording limit which is completely logic defying to me.
I would love to come back to the Canon family for video; my dream setup is a C200 Mark II A camera and an R5 hybrid run and gun b cam for gimbal and photography work. I would even get the R6 as a C camera (timelapses, 3rd POV, handheld POV, etc) if Canon finally puts away their cripple hammer.
I absolutely love Canon's color science and would love to consolidate my entire setup around them, but if this is another disappointing year I'll probably go all in on the S1, S1H and EVA1 instead. It's ironic...Panasonic can already do everything I want for video but my Canon lenses, Canon color science, and Canon auto focus is the only reason I have kept waiting for 3yrs on Canon to add the missing pieces.
If XLR entry is a must for you, there are other options that you can use with any other DSLR or Mirroless body.
TASCAM DR-70D is the one I own and it is a very good quality option. Less expensive than the Lumix add-on for microphone.
In Tascam brandname you have cheaper and more expensive options, depending your budget and your needs.
Tascam DR60D is cheaper, and Tascam DR 701 is more expensive with 6 XLR entries.
Tascam DR-70D | Enregistreur audio stéréo pour appareils reflex numériques (DSLR)
Enregistreur audio stéréo pour appareils reflex numériques (DSLR)
www.tascam.eu
I do also own ZOOM H4N PRO, that is a fabulous tool, that can be used for recording concerts, conferences etc.
It is a professional tool, that can also be used with a DSLR with 2 XLR Entries.
Zoom is also offering a bunch of other options depending your budget and needs. Up to 8 XLR entries...
Zoom H4n Pro
Enregistreur portable MP3 / Wave Résolution jusqu'à 24 bits / 96 kHz, Formats d'enregistrement: WAV, MP3 et le format BWF, Micros stéréo intégrés, peuvent être positionnés à 90° ou 120°, SPL max: 140 dB, Seuil de bruit amélioré (-120 dBu EIN), 2...
www.thomann.de
Both Tascam and Zoom tools can be used for pure audio projects without a camera.
The Lumix add-on can not.
Let's not forget that many brandnames have developped excellent microphones with a 3.5mm jack dedicated to DSLR camera that are producing excellent quality of sound.
I own the Audiotechnica AT8024 producing an impressive good quality of sound.
Equivalent or even better than my XLR RODE NTG2... incredible but real.
MICRO AUDIOTECHNICA AT8024
Microphone mono et stéréo à condensateur court avec prise mini jack pour appareils DSLR
www.trm.fr
Other 3.5mm jack microphones I do not own but their reputation is very good: Sennheiser MKE400, Rode VideoMic Pro+ etc.
Like you I am looking at the R5 with a videographer angle. However, for me the presence of XLR entry is not important.
Because of all the options I have just listed.
What will be key for me is the image quality of the video.
I hope much sharper than what Canon had produced up to now.
I will not buy an R5 for stills images. I am very pleased with my 6D and 60D on stills.
Let's wait for the first official footages...
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