Shot this at work to compare the Atomos HD recorder and the Canon 5D internal recording.
The signal was captured on the Atomos using HDMI output from the Canon 5D. I used Magic Lantern AJ 5.7 to clean up the signal. (I left the Magic Lantern green crop marks and the read outs on purpose, because those will crop out when I eventually crop the footage to 1280x720)
This file was rendered out using After Effects without any color corrections. Photo JPEG compression for Vimeo.
As evident by this, the H264 compression really shows, especially from the light to dark gradations, there is very obvious color banding.
The main complaint I have about the Atomos so far are complains I have about the Canon 5D HDMI out signal. I really hope Magic Lantern figures out how to output a clean, full 1920x1080 signal from the camera. (although, it looks now that there is actually MORE information in the Atomos frame, it is just scaled down)
Also, the footage from the Atomos has to be Reverse Telecined. I used JES Deinterlacer, but every once in a while, I get a "No Cadence Phase" found error, which is really annoying. I wonder if Atomos can fix this issue. Hopefully their Stripper 1.0 software works smoother to remove the pulldown from the Ninja in a clean and smooth manner.
On a last note, the footage captured by the Atomos seems a bit more green (there is even more green in the noise itself at higher ISOs) not sure if this is an Atomos issue, or a Canon issue with the HDMI out signal.
Shot using a Zeiss 35mm f/1.4 Distagon T