So this thread is relatively old, yet still relevant, so I thought I’d add my two cents.
I’m also a 5D mk ii owner, and have been considering wether to upgrade to a large censor camcorder (like the FS100 or AF100) or whether to try and exploit the 5D’s HDMI with a field record like the Ninja or DeckLink.
However, if you dig through Magic Lantern’s site about HDMI output on the 5D, you’ll find this little bit of important information:
“While these devices are capable of recording 1080p 422 signals, the HDMI output from the Canon HDMI is limited to 1620×1080 (3:2) while the camera is not recording. This requires the user to crop the footage from the external recorder to 1620×910 (16:9) and then resize it to either 1280×720 (79%) or 1920×1080 (119%).
When the camera is recording, HDMI output resolution is limited to only 720×480 (effective image resolution is 640×388, which represents a stretched 3:2 frame).”
You can read more here: https://magiclantern.wikia.com/wiki/HDMI_Output
Anyway – certainly makes me reconsider the whole proposition. Please keep in mind though that this information pertains to the mk ii, and I cannot speak to the quality that is sent from a mk iii.