This plugin allows users to load the h.264 via the log and transfer menu and transcode to ProRes.

Download from Canon.

Be sure to select Mac OS from the operating system drop down to see the file. 

Apparently, Canon will announce a new pro camcorder based on an MPEG2 recording format in 4:2:2 color and at 50Mbps quality.

Interesting, since the Canon DSLR line uses MPEG4 for video. MPEG2 will be less taxing on the processors.

Will this be the 5D sensor? What will the form factor be? We may hear more by NAB in April.

Here is the link to the press release.

This section contains release information about Final Cut Pro 7.0.1.

• Fixes an issue where Final Cut Pro 7.0 could quit when using the AJA lo HD and playing mixed format sequences.
• Fixes an issue when using the new Change Speed dialog to add both "Curve from Start" and "Curve to End" speed ramps on the same clip and the setting for Ripple Sequence was unchecked. This combination of settings would make the clip run backwards for a short time.
• Fixes the issue where changing the length of a speed ramp with the Change Speed dialog using the Length numerical entry box would not work if both "Curve from Start" and "Curve to End" were not activated. Final Cut Pro 7.0.1 allows you to change the speed ramp length when selecting one type of curve.
• Fixes an issue where the Desktop Cinema Display Preview would occasionally tear the bottom of the image when using a Cinema Display as a second display with a MacBook Pro.
• Fixes an issue that would occur when using the Close Gap command. The playhead would need to be on the first frame of the gap to correctly use the Ripple Sequence Markers function. The playhead can now be in the middle of the gap to ripple sequence markers correctly.
• Fixes an issue where video material at 2048x1080 and 2048x1556 frame sizes would show a color shift.
• Adds a ".aif" extension to audio files created using the Voice Over Tool.
• Fixes jittering with Rolling and Crawling titles using Boris Title Generator on interlaced material.
• Fixes a situation where if you edited a freeze frame as the first shot of a sequence, then edited in a second shot after the freeze frame, the sequence name would change to match the second shot.

http://support.apple.com/kb/TS2521