In an interview, Tim Smith from Canon has hinted that Canon may use its propriety MPEG2 50mbps codec in the new SLR models they plan to release this year, rather than the industry standard H264. Similarly, it is reported on Canon Rumours that the new codec will be based on the one used by the XF305, will have a 4-2-2 color space and that bitrates will be variable up to 50mbit.
The reason for the change is being cited as an unwillingness to pay the licensing fees for the AVCHD/H264 formats. Adobe and Apple have already taken up the new format, so compatibility should not be a problem. There are also lots of rumours that Canon are looking into Apples new Thunderbolt high-speed peripheral connection technology and that they will release the much-awaited 5D MkIII camera sometime in the early part of this year.