At first they announced that they found a way to output RAW CineDNG on the EOS 5D Mark III and EOS 5D Mark II (price & specs). But it was not possible to record more than 12 fps at 1080p because of buffering issues. Later they announced that there is a way to record almost 1080p at 24fps (which can be cropped to 2.35:1 aspect ratio) as long as you are using a 1000x memory card.
This a major breakthrough for the ML team.There is a substantial difference between RAW video mode and regular H.264: more dynamic range and resolution at first instance.
Check the videos. The video above is RAW output, the video below was recorded in H.264 ALL-I with Cinestyle profile.