Ok, From what I understand, the 5D actually doesn't generate time-code in the original h264 files off of the camera. At 30P Setting, the camera will shoot 29.97. If we use the EOS E1 Plugin with Final Cut Pro, it will add timecode to the ProRes clips, drop-frame Timecode.
So, I think that we are OK...Anyone else have other info? Does this sound right?