I have been testing recently with Technicolor’s CineStyle Profile for the Canon 5D Mk 2 and I have been very impressed by the images I have seen. The profile was developed in conjunction with Canon, in order to allow a Log style shooting profile for Video on the 5D. This in turn allows for a slight increase in dynamic range and a better starting point for a full color grade. I am now using this profile on my 5D and in conjunction with Da Vinci Resolve, I have been able to produce some very nice results. I am not sure that it is suitable for every project, certainly if you have no time to grade then it is useless.
More info here and free download on the Technicolor Website