The announcement about RAW recording on the 5dMK3 intrigued me so much that I finally picked one up. I've been on the fence about the camera as I'm NOT a fan of the DSLR video look and frankly it's a tool I usually avoid. However the idea of such improved image quality made it interesting once again. After today's experience the RAW functionality will be useful for specific shots while the remainder of a project could be captured using the standard video function.
Here's the video with the side by side comparison's that are imho more than convincing, even with limitations this makes DSLR film making and footage gathering more interesting than ever.
IMAGES PROCESSED on a PC using raw2dng.exe
then IMPORTED on A MAC to CS6 After Effects
Edited in Premiere on a MAC - it's time consuming but the results are beautiful
CAMERA SETTINGS: Technicolor CineStyle was enabled for all shooting, everything else was default.
POST: the h.264's are untouched, the RAW files were processed minimally to ensure the highlights/shadows weren't clipping for maximum dynamic range.