Now that you have your Canon 5D Mark2 and have been shooting some video clips it's time to start editing them together.  You could use Apple's new iMovie 09 which handles the 5D Quicktime files very good, or opt to use Apple's pro solution,  Final Cut Pro.  If you have tried using FCP, you may have noticed that your 5D M2 files won't play back smooth or tend to drop frames when in FCP's timeline.  This is because the Canon is using a codex called H.264 to compress it's QT files.  The H.264 is a compression codex which provides incredible video quality from smaller files sizes.  But as of now, FCP doesn't work well with them for editing.  

This is where Apple's ProRes 422 comes into play.  ProRes is post-production format that offers uncompressed HD quality at SD sizes and is a format that works very well in FCP.  You sequence will play back smoother and require less rendering.

To transcode (digital-to-digital encoding or conversion) your 5DM2 video clips into ProRes you could use Apple's Compressor or a free software called MPEG Streamclip.  I prefer MPEG Streamclip because it transcodes the clips faster and allows batch conversions.

Please post any comments or feedback on 5DM2 workflows that you have come up with.