Thanks for posting. It's much appreciated. I wasn't trying to hijack your thread.
Lew S made a very helpful post in another thread that pointed out that this camera produces Quicktime H 264 and that Liquid (and many other NLEs) doesn't support Quicktime or H 264. In fact H 264 seems to be a bad codec to use for acquistion period.
It's clear that Liquid won't support these files natively (and completely understandable because, as you say, it's not possible to second guess what format Canon etc might use next).
So the transcoding route is the way to go.
I understand that Cineform works to convert these files on other PC-based NLEs but it doesn't work for Liquid.
I've been using TMPG but I'm not at all expert in these matters and I don't know if what I am doing is producing the best results. Certainly the fact that the camera produces 30p and Vimeo (which is where most of my stuff goes) converts to 25p (or 24, I'm not quite sure) doesn't help.
So what I'm really trying to establish is what the best route might be to convert these files to get the best result in Liquid.
I know that it's the pathfinders that end up with the arrows in their backs but I bought the camera in order to learn what's possible. I don't mind taking the risk and will sell the camera at a loss if it doesn't work out. But I'd really like to give it a try first of all because what the camera can do in certain situations is pretty amazing compared to the XH A1 that I currently use for my paid work.
Maybe this can't be made to work but if it can it will be good for Liquid and for me.
So I don't think that I am hijacking the thread as Tomas says because my original question wasn't about the camera per se, it was about whether what you are working on may possibly provide a high quality route to transcoding the 5Dmk2 files for editing in Liquid.
ps I'm not trying to blame anyone for anything and I hope it doesn't sound like that. I don't blame Canon for bringing out this fantastic camera and I don't blame you guys for keeping Liquid viable. In fact I appreciate it hugely.