Apple has released a Canon specific workflow package for Final cut pro. 5DtoFCP 1.1 is a workflow solution for the 5D, 7D, and 1D Mark IV. From Apple’ site.
â€œThis unique workflow package allows the user to choose to edit in 1080p, 1080i or straight to standard definition 16×9 25fps. Custom droplets give one click access to compressor that will convert the H264 files into ProRes for editing. The user also has a choice whether to make the clip realtime (i.e. 30fps to 25fps) or timestretch so that one frame in 30fps is one frame in 25fps. This will result in a slowdown of 20% for pin-sharp results.â€¨â€