According to the English-language blog http://eoshd.com, the Japanese apparently work on a new video codec for the 5D Mark 3, which is based on the MPEG-2 format. This is a slightly improved variant of the codec, which is used for Canon’s Profiboliden XF300 and XF305.
The new DSLR codec will use the rumors of a 4: 2: 2 color space and work with a variable bit rate of up to 50 Mbit. As with the XF300 / 305 models, there is more vibrant colors and softer transitions.
Next, the blog speaks of flotter video cut with original material, without previous conversion into the ProRes format. Compared to the Canon 5D Mark II, the new model would then no longer with H.264-based MPEG-4 film, which is considered quite CPU-intensive.
For the end user this could only bring advantages. However, Canon's philosophy would be a more far-reaching philosophy behind this step. The manufacturer could save himself with the new codec the payment of license fees for AVCHD / H.264 to Panasonic and Sony.
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