Here's a quick video tutorial explaining the process of transcoding video captured with the new Canon EOS 5D Mark II digital SLR from H264 to more FCP friendly Apple ProRes 422.
After further investigation, Peter is recommending to work with 5dmarkii footage in its native h264 format... for now. Check out Final Cut Prose Episode 4 for a consolidated cut, color, and compress for web tutorial:
And for even more insights and awesomeness, visit petersalvia.wordpress.com
Canon 5D Mark II
Also go to see Group vimeo.com/groups/canon5dmark2