FTII People

http://www.wonderhowto.com/how-to-conve ... 7d-331935/

the above link is one of the options i found of how to convert Canon 5d or 7d footage and edit it in FCP. I found it to be quite useful also there is a software that Canon has come out with it is available for free download, this software converts 5d and 7d files to various resolutions any of which can be used for editing. And surprise surprise this software also adds timecode to the footage. So pls feel free to check it out and do let other ppl know of the results.

the tutorial is here

EOS 5D Mark II will record movies up to 4GB per clip or a maximum continuous movie capture time of 29 minutes and 59 seconds, whichever comes first. Depending on the level of detail in the scene, a 4GB memory card can record approximately 12 minutes of movies at full HD resolution or approximately 24 minutes in standard definition.1 Video clips are recorded in .MOV format using an MPEG-42 movie compression and sound is recorded using linear PCM3 without compression. The new camera features an input terminal for external stereo microphones as well as a built-in monaural microphone for convenience. To help show off those fantastic movies as well as still photos, the EOS 5D Mark II camera includes an HDMI (High-Definition Multimedia Interface) output to display crisp, clear images on a High-Definition TV.

See the full details here