1 Feb 2014 - Video Production, Professional Video, Photography, Post-Production
Magic Lantern is a free software add-on that runs from the SD/CF card and adds a host of new features to Canon EOS cameras that weren't included from the factory by Canon. Most notably, it provides users with the ability to record 14-bit uncompressed RAW video to a CF/SD card.
Magic Lantern is available for the following Canon Cameras: 5Dc, 5D2, 5D3, 6D, 7D, 40D, 50D, 60D, 500D (T1i), 550D (T2i), 600D (T3i), 650D (T4i), 700D (T5i), 1100D (T3), EOS M, 100D (SL1)
An official guide for installing Magic Lantern is available on their website.
If you'd like to install Magic Lantern onto a Canon EOS 5D Mk III, cinema5D has their own written guide for the process, including links to the neccessary Canon firmware.
You can also find a guide from cinema5D on post processing the RAW footage from a 5D Mk III on Vimeo
Alternatively, David Kong can run you through the process for a Canon EOS 550D (since replaced by the EOS 700D) in the video below; the accompanying article is featured on Philip Bloom's website.
And finally, for a recent example of a short film shot using Magic Lantern, check out Frames of Life by Günther Gheeraer.